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Unit 1 BTEC HND in Business Research Regent College Level 5

Answer :

INTRODUCTION

After the evolution of internet technology in the year 1960s, the whole system of communicating with other. Earlier people use to travel a lot for selling their commodities that was traditional style of marketing but now company has optimise new trends which are according to the market situations (Rennie and Morrison, 2013). Companies are using latest tools and technologies for interacting with other people. Social networking is a kind of web application that are used by many people so as to connect with other individuals who share the same personality, activities or background. Therefore, social networking provide its services through internet. As compared to earlier times now connecting with people at different places is much easier. The purpose of conducting this research is to know the advantages of social networking in an organisation for operating their business in an effective manner. Therefore, this process is adopted by most of the organisation so that internal and external communication can be maintained. LinkedIn is the popular sites that is used for interacting with other firms. Henceforth, social networking sites has become the game changer for every organisation. The report will throw on the advantages that can be gained by the organisation for business operations. Apart from this, various tools and technologies adopted by most of the companies in order to accomplish their task in an effective manner. Relationship between social media tools with growth and development of a firm is included in this report. Although there are many limitations that arises in social networking while performing the task in an effective manner.

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Project Objectives

Aim: To determine the advantages and limitations of utilising social networking in enhancing growth and development of organisation – A case study on Billabong

Objective:

  • To determine the advantages of utilising social network by Billabong in their operations
  • To analyse the importance of social media tools for enhancing overall profitability and market shares.
  • To determine the relationship between social media tools with growth and development of organisation
  • To determine the major limitations of using social media tools.

Project Scope

In today's market social media play vital role in enhancing the overall growth of the company at market place. By this firm invite larger number of customers towards its products and services which may leads in improving the overall performance of the company. Basically the main aim of using social networking is to develop competitive growth and at the same time also capture customers attention towards the company products and services. With the help of this firm improve their brand image and create strong customers base (Durkin, McGowan and McKeown, 2013). Along with this, by using social networking company enhance their brand image in front of customers which may leads in attaining better success at market place. Basically social networking consider as an important tool for every business organization in order to enhance their performance level. It provide better support in which company improve their performance level by delivering quality services to its customers. In this context there are some main advantage and disadvantages of utilising social networking. This can be understood by following points:

Advantages:

  • Brand awareness: By using social networking company easily promote their services which may leads in creating brand awareness in most effective manner. With the help of this company grab customers attention by enhancing their brand image.
  • Brand reputation: It is also an important advantage of using social networking, by this company enhance their brand image in front of market and also provide better services as per customers needs and wants. With the help of this, firm develop their brand reputation at market place which invite number of customers towards its products and services.

Limitations:

  • Ineffective use: Some time social networking can be used in negative manner which negatively affect the overall brand image of the company. By this customers define their negative aspect which may reduce the profitability level of the company (Scott, 2017).
  • Time consuming: Utilisation of social media take lots of time which negatively affect the business performance because some time company fails in providing quality services to its customers as per their needs.

Literature Review

To determine the advantages of utilising social network by Billabong in their operations

According to Crowe, (2011), social networking is a vibrant tool that is used by companies so that they can communicate with others in order to explain people about their commodities. After the evolution of internet technology, many organisation evolve with their innovative ideas through which they can interact with others. Usenet was the first online community that was developed by Duke University graduate students. Social networks has provided maximum benefits to Billabong and they are using these technologies for making their business more appropriate.

Company is using social media for the purpose of marketing so that customers can easily recognise their brand as social media are very good in introducing their product to its customers. Henceforth, for this Billabong is optimising social network for making its customers aware about their recent commodities. According to Hausmann, (2012), it can be evaluated that around 75% of people are saying that the information that they are getting has influenced their shopping behaviour and improved their brand loyalty. Social networking sites is helping Billabong in improving its sales and profitability due to which an increase in revenues can be seen. Hence, these networking sites attract customers towards their organisation. Billabong is using various promoting tools and broadcasting their advertisement in order to pull maximum number of customers. Company is using different mediums of social networking sites i.e. Facebook, twitter, Amazon and many more.

Other than this, social networking sites are assisting the organisation in improving customer services and for this, Billabong has developed a different departments where consumers can share their problems related to their commodities. Real time information sharing is another advantage of social networking as it enable an organisation in sharing their related information to its employees in a proper manner so that they can accomplish the task in an effective manner. Therefore, company can use social networking for the purpose of interacting with customers and employees as well. Leaders and managers are using this tool for achieving all its goals and objectives. Along with this, it is enabling Billabong in connecting with new customers and it is helping them in expanding their business in other places.

With the change in course of time, social networking has changes the perspective and way of communication. It has provided many opportunities to new tenants and existing companies as well. Through this process business personality can easily share their ideas, recommendations and experiences. Billabong is a renowned company social networking site is helping them in knowing the behaviour of customers, getting suggestions from valuable consumers. This is enabling the company in manufacturing products as per the needs and wants of clients so that they can satisfy their demands. Therefore, social networking is assisting Billabong in conducting their business operation in an effecti

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