Social Networking and Enterprise Essay Example | Topics and Well Written Essays - 2000 words - 1

complaisant Networking and Enterprise - Essay ExampleIntroduction The use of cordial media for the enhancement of disposalal performance has been highly expanded the cash in ones chips years. In fact, since the appearance of social media and social networking, the terms of competition in the market have been changed. Businesses tend to focus on social media and social networking charge if risks have not been eliminated. In banks and financial institutions the use of social media has an important implication it can threaten the data stored in these organizations IT systems (Business Wire 2012). The case of rise Fargo proves that social media can be successfully embraced in banks, even if changes are required so that the relevant framework to become more effective. The potential benefits of social media and social networking for Wells Fargo are explored in this case. It is proved that the organization is highly developed in terms of social media still, the development of certain policies could allow the organization to improve its social presence, even in the long term. 2. Main Findings 2.1 Advantages and disadvantages of social networking presence for Wells Fargo 2.1.1 Social Networking and Social Media in business environment Social networking has become a quite popular practice in organizations worldwide. In order to understand the potential value of social networking for modern businesses it would be needful to explain primarily its general context, as described in relevant literature. According to Daft (2009) the term social networking reflects a framework that offers to its users the potentials of peer-to-peer communication and manduction of information (Daft 2009, p.312). In other words, social networking represents an online community the members of which can interact and share personal data, information and opinions (Daft 2009, p.312, Figure 1). Waddill and Marquardt (2011) note that social networking refers mostly to the online gather of indiv iduals into groups (Waddill and Marquardt 2011, p.237). The terms under which these groups are developed are depended on the rules of each social networking site, as aligned with existing legislation in regard to online activities and communication. The organizations that usage social media and social networking in their daily activities are also known as social organizations (Bradley and McDonald 2011, p.18). These organizations are aware of the value of social networking and social media and are capable of using these frameworks not only for increasing their performance but also for establishing a long-lasting relationship with their stakeholders (Bradley and McDonald 2011, p.18). The level at which social networking is presently used in businesses worldwide is significant, but still there are prospects for further growth (Waddill and Marquardt 2011, p.237). In 2008 the business journal McKinsey Quarterly developed a survey in regard to the use of second-generation web technolog ies, known as Web 2.0 (Daft 2009, p.312). The survey showed that just a 28% of the organizations had incorporated social networking in their daily operations (Daft 2009, p.312). In regard to the other forms of advanced Internet technologies, such as blogs and wikis, the relevant percentages were significantly higher 34%.