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Questions: What Are The Positive And Negative Implications Of Social Media Platforms For Business? What Is The Role And Importance Of Social Media Networks For Business? Which Factors Are Behind The Increasing Use Of Social Media Networks By The Businesses? What Factors Have Motivated Wesfarmers Limited To Use Social Media Networks? Answers: Introduction Role and importance of Social media networks are increasing in this dynamic business environment. Social media networks are the web-based communication technology which is being used by the companies for communicating with others. In this fast-changing environment where competition is increasing, there has been a rise in the use of different social network techniques. Social media networks are the platforms which provide a base to the company for communicating with the different stakeholders. The number of the people using social media networks or platforms has increased for the sharing of information and data with each other (Bank Bank, 2015). Wesfarmers Limited is using social media platforms for interacting with a large number of customers and covering the large area. Impact of the use of social media platforms by the companies can be seen in the business functions of the company. The focus of Wesfarmers is on influencing a large number of people with the use of social media platforms. With the use of social media networks, companies can generate awareness among the customers regarding the products or services offered. Companies are using social media networks for reducing the cost and time involved in communicating or interacting with the customers. Impact of the use of social media platforms can be seen on the functioning or performance of the companies (Ciprian, 2015). This research program will discuss the concept of social media networks, positive as well as negative aspects attached to the use of social media platforms to the companies. Different research methods will be analyzed for the purpose of selection of a most suitable method for accumulation of the data. Project Objective This research program has been initiated on the chosen topic so as to assemble data for developing the knowledge and understanding of different aspects related to the topic. Few objectives have been formed on the basis of which data collection process will be initiated. The main objective of this research program is to accumulate data regarding the advantages and disadvantages of using social media networks in the business in relation to Wesfarmers Limited, Australia. The focus of the research will be on identification of the meaning and concept of social media networks and different positive and negative aspects attached to the use of social media platforms by companies. Project Scope This research program will cover the trend of using social networking by the businesses. It is vital for the business to understand the role and importance of social networking platforms along with the benefits and limitations of using social media networks. For enhancing the knowledge regarding these aspects attached to social media networks, different articles, journals, notifications and online publications will be used. This research project has been undertaken with an objective to enhance the knowledge regarding the use of social networking platforms and their role in shaping the performance of the business Literature Review Social networks can be explained as the websites which provide a base to the people for communicating with each other, sharing information, ideas, photos, and videos. Social networks are a crucial part of the current practices of the business. For enhancing the awareness regarding the products or services and publicity of the company, social networking platforms are being used by the businesses. Social networking platforms have helped the business in establishing an image in the society which forms a base for the growth of the business. A right person needs to be hired in the right place for grabbing the opportunity available. Different social media platforms are being considered by the businesses for communicating and interacting with the customers and potential customers. These different social media platforms include Facebook, Twitters, YouTube, and Instagram (Kudeshia Mittal, 2015). Wesfarmers Limited have used social media platforms for the expansion of the area of operation by promoting the products or services offered. Companies operating at a different level are making use of social media platforms for targeting the customers or potential customers. Level of competition in the business environment is increasing which has resulted in a rise in the need to adopt effective strategies. Social media platforms are being used an effective strategy or approach for coping with the rising competition. Companies are using social networking system for generating positive feedback from the customers and promoting the products or services in front of the prospective customers. Companies are using social networking system as a marketing approach for targeting the customers and enhancing the revenue of the company (Kavanaugh, et. al., 2012). Analysis has to be done of the increasing trend of the social media platforms. Advantages and disadvantages need to be considered while making a decision regarding the use of social media platforms. Social media platforms have allowed the business to target or retarget the customers in a better manner. For the purpose of developing brand loyalty, businesses focus on adopting effective approaches. Social media networking is an effective approach which has encouraged the business to target the market in a better manner. Analysis has to be done in the competitive environment so as to analyze the practices adopted by the business. There has been a shift towards the use of digital media (Kaplan Haenlein, 2010). Different advantages of using social media platforms or networks have been identified by different authors. Social media platforms have enabled the companies to spread awareness regarding the products or services between the customers (Houghton Joinson, 2010). Decision-making process of the customers gets affected by the information shared by the business with the help of social media platforms. For enhancing the relationship with the customers, businesses need to adopt social networking system. Online presence of a large number of companies operating at different levels has been identified (Forest Wood, 2012). In the words of Grysh?henko Niesheva (2013), the positive impact of the social networking can be seen on the ranking of the company on the search engine. Businesses are using social networking platforms for enhancing the traffic on the websites of the company. It has been identified that more than 58 % of the companies have gained benefit by using the social network for enhancing search engine ranking. Feedbacks of the customers or reviews of the customers can be collected with the use of social networking platforms. Recognition of the business has been increased at the global level with the use of social media platforms. Customers can access data or information regarding the business anytime from anywhere with the use of social networking platforms (Kudeshia Mittal, 2015). On the contrary, there are few limitations attached to the use of social networking platforms by the business. Social networking system can affect the personal touch of the business with its customers. This can affect the performance and functioning of the business. Hidden cost may occur which can affect the financial performance of the business (Ciprian, 2015). Security related threats to the confidential data of the business increase with the increasing use of social networks. Brand image is at risk as negative feedbacks by the customers can affect the image of the company. Competitors can use social networking platforms for their benefit by spreading misleading information (Hollebeek, 2017). Justification The discussion has been made regarding the importance of social networking platforms in the dynamic and competitive business environment. Social networking platforms are an important aspect of the current business environment which are creating an impact on the functioning of the business. Social media has contributed to the marketing function of the business by enhancing the reputation and awareness of the business. Social networking system has provided a base for the expansion of the area of operation. On the other hand, few disadvantages have been covered in this research which is affecting the performance and functioning of the business adversely. These disadvantages have been considered in this program. Research Design and Methodology Under this section, different approaches and methods are discussed which are to be used for the accumulation of the required data. For putting the different activities of the action plan into action, there is a need to accumulate the required data. Analysis of the data will be done of the accumulated data. For the attainment of the objectives of the research, there is a need to use effective approaches for assembling the quality data. Qualitative research method This method will be used for meeting the objectives of the research program by providing quality data regarding the research topic. The qualitative method helps in providing clarity regarding the various aspects attached to the topic of the research program. Clear view of the issues or problems related to the research topic is developed with the use of the qualitative method (Rahi, 2017). Qualitative research method will help in accumulation of the data for developing knowledge of the concept of social media platforms, the trend of using social media platforms and various advantages and disadvantages attached to the utilization of social media platforms by the business. Approaches to Reliability and Validity Reliability of the data has to be maintained for ensuring that the quality of the research is not being compromised. Approaches need to be selected by ensuring that these approaches ensure the quality of the data. Sampling method: data assembled is in large quantity which has to be analyzed effectively. Due to the shortage of time, analysis has to be done of the samples selected from the total population. For the analysis of the assembled data, there is a need to select the samples. On the basis of the selected data samples, data analysis process will be executed. Random sampling technique will be applied for the selection of the samples from the total population. Random sampling ensures equal opportunity is there for every sample of the population (Ibrahim Al-Omari, 2014). Sample Size: accumulation of the primary data will be done by constructing a questionnaire. This questionnaire has to be presented to the employees of the companies which are using social networking platforms. Data will be assembled from these employees which will be based on their judgment. Secondary data will be assembled from the different internet sources so as to ensure the quality of the research. Data Collection Method: a collection of the data is an essential task on which research is based on (Winit-Watjana, 2016). Data will be accumulated with the application of the primary and secondary sources. The focus of the research will be on achieving the objectives by accumulating the relevant data. Primary Data Sources: Primary sources focuses on the accumulation of first-hand data from the respondents specifically for meeting the objectives of the research. Primary data can be assembled with the use of a questionnaire, observations, and interviews. When the reliability of the method of data collection is considered, primary data is less preferred (Thomas, 2015). Secondary Data Sources: secondary sources provides second-hand data which others have collected for their works (Turkenburg McAuley, 2013). Secondary data is more reliable as this form of data has been used and approved by the other researchers. Secondary data can be assembled by using internet sources which ensures the reliability and authenticity of the research program (Johnston, 2014). Ethical considerations: ethical aspects are considered with an objective to provide guidance to the researcher and decision-making process of the researcher in the right direction. Few ethical aspects have been taken into consideration while conducting the research. These ethical considerations are confidentiality, integrity, fairness, and honesty. Quantitative research is an effective approach for the accumulation of the numerical data regarding the aspects of the research program (Dijk, 2012). Numerical data ensures the reliability by providing accurate information (Walter, 2013). For the accumulation of the quantity data or numerical data regarding the utilization of social media platforms, quantitative research method has been chosen. Research limitations Limitations are the factors which act as a challenge or threat to the research program. These factors have the potential to create an impact on the execution process of the research program. The researcher has no control over these limitations and these limitations restrict the methodology and conclusions of the research. For overcoming these limitations, the researcher has to identify suitable strategies or approaches. Limitations identified during the execution of this research program are mentioned below: Shortage of the resources for execution of the research is one of the most important limitations. These resources include human resource, finance, knowledge and time. Research has to be completed within the set timeframe using the available resources. The absence of proper permission to access the data or sources. Internet sources and primary data are to be used. Time Schedule (Research Plan) Action plan Sequence Activity Initiation date Duration (in days) Completion Date I) Choosing the topic for the research project 02 February 2018 1 02 February 2018 II) Outlining the plans on the basis of which research program is to be carried out 03 February 2018 4 06 February 2018 III) Execution of the plans outlined 07 February 2018 7 13 February 2018 IV) Analysis of the various data collection methods 14 February 2018 3 16 February 2018 V) Assembling of data from the use of data collection methods selected from the available alternatives 17 February 2018 5 21 February 2018 VI) Evaluation of the data accumulated with the use of data collection methods 22 February 2018 4 25 February 2018 VII) Conclusion and recommendations 26 February 2018 2 27 February 2018 Gantt chart Conclusion Thus, from the above discussion, it can be summarized that social networking platforms are of great importance for the business. In this dynamic business environment, there has been a rise in the use of social networks. Social networks are being used as a marketing tool for the promotion of the products or services and communicating with the customers. With the use of social networking platforms, there has been an enhancement in the capabilities of the business in interacting with the customers. Different social networking platforms are being used by the businesses for promoting the business and communicating with the customers or potential customers. Social networking platforms have provided an opportunity to the business which contributes towards the growth of the business. References Bank, C. M. V. D. Bank, M. V. D. (2015). The impact of social media: advantages or disadvantages. African Journal of Hospitality, Tourism and Leisure, 4 (2). Ciprian, P. (2015). The Growing Importance of Social Media in Business Marketing.Quaestus,(7), 94-98. Dijk, J. W. V. (2012). 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