Risks and Benefits of Social Media on a Multinational Corporation
BUS378: Knowledge and Organisational Learning
Risks and benefits of social media on a Multinational Corporation
Student Name: Tan Pei Si Jalyn
Student Number:
31726715
Date Due: 9th July 2012
Lecturer Name: Mr Gerard Chan
Word Count:
2366
Table of Contents
INTRODUCTION 3
SOCIAL MEDIA 3
USAGE OF SOCIAL MEDIA TOOLS 4
CREATE KNOWLEDGE SHARING 4
BUILD SOCIAL CAPITAL 5
SUPPORT INNOVATIONS 5
AID PROBLEM SOLVING 5
APPLYING THE THEORY 6
RECOMMENDATIONS 7
RISK AND BENEFITS 8
CONCLUSION 9
BIBLIOGRAPHY 10
Introduction
The world of work revolves not only around getting the job done but also about the social interaction between people to optimize and innovate the business to a different dimension. In this report, we will take a look at social media as a whole and how Company x a multinational corporation utilizes social media to improve communications within the company. Recommendations will be made to improve the current process to ensure that the knowledge creation process is beneficial to the everyday running of the business.
Social Media
Social media is defined as "a group of Internet-based applications that build on the ideological and technological foundations of Web 2.0, and that allow the creation and exchange of user-generated content." (Kaplan and Haenlein 2010) There are two key elements to social media namely media research and social processes. Media richness theory is highly based on the assumption that the goal of any communications is the resolution of ambiguity and the reduction of uncertainty (Daft and Lengel 1986). In short, a good communication is one that provides the most information in the shortest time frame.
Types of social media tools
(Kaplan and Haenlein 2010)
The different social media tools are presented in table 1 and are graded based on their level on “self presentation” and “media richness”. To identify the right tool for an organization, it is necessary to understand the
Risks and benefits of social media on a Multinational Corporation
Student Name: Tan Pei Si Jalyn
Student Number:
31726715
Date Due: 9th July 2012
Lecturer Name: Mr Gerard Chan
Word Count:
2366
Table of Contents
INTRODUCTION 3
SOCIAL MEDIA 3
USAGE OF SOCIAL MEDIA TOOLS 4
CREATE KNOWLEDGE SHARING 4
BUILD SOCIAL CAPITAL 5
SUPPORT INNOVATIONS 5
AID PROBLEM SOLVING 5
APPLYING THE THEORY 6
RECOMMENDATIONS 7
RISK AND BENEFITS 8
CONCLUSION 9
BIBLIOGRAPHY 10
Introduction
The world of work revolves not only around getting the job done but also about the social interaction between people to optimize and innovate the business to a different dimension. In this report, we will take a look at social media as a whole and how Company x a multinational corporation utilizes social media to improve communications within the company. Recommendations will be made to improve the current process to ensure that the knowledge creation process is beneficial to the everyday running of the business.
Social Media
Social media is defined as "a group of Internet-based applications that build on the ideological and technological foundations of Web 2.0, and that allow the creation and exchange of user-generated content." (Kaplan and Haenlein 2010) There are two key elements to social media namely media research and social processes. Media richness theory is highly based on the assumption that the goal of any communications is the resolution of ambiguity and the reduction of uncertainty (Daft and Lengel 1986). In short, a good communication is one that provides the most information in the shortest time frame.
Types of social media tools
(Kaplan and Haenlein 2010)
The different social media tools are presented in table 1 and are graded based on their level on “self presentation” and “media richness”. To identify the right tool for an organization, it is necessary to understand the
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