Social Media In a business environment Essay Example | Topics and Well Written Essays - 3500 words

Social Media In a business environment - Essay Example The report is based on the study of the importance of social media and social networking in the retail business sector. A thorough research of various literatures has been done to understand the importance of social media and social networking for the improvement of the business sectors. It has also been analysed that how the adoption of social media in a retail enterprise can transform the interaction procedure between the organisation and their stakeholders. The five steps of the social media success have been thoroughly followed to introduce new social media strategies for a retail enterprise. These steps include the analysis of the existing social media and social media trinity, integration of all the possible strategies, identification of resources and metrics implementation (Safko, 2010). This analysis is further focused on generating valuable strategies which will assist a retail enterprise to implement the successful usage of social media and network in their business develop ment. It has described that how the incorporation of social media and network in business operation will support and enhance its internal as well as external communications and knowledge management. On the other hand the report has also indicated the obstacles and issues related to the adoption of social media in the business enterprise. The company which has been discussed in this study is a local enterprise. It has a total of 45 retail outlets which mainly deals in apparel and accessories. The organisation also has their website to sell their product but it is not very profit making. The organisation is introducing the kid garment segment in its 20 retail centres. Since last two years the organisation is facing a huge competition in the market. The retail industry is growing to be one of the largest sectors in the global market. There are a huge number of established