Fostering Sociability in Learning Networks †MyAssignmenthelp.com

Question: Discuss about the Fostering Sociability in Learning Networks. Answer: Introduction Social media platforms if well managed can be of great boost to the operations of any multinational corporations. Its the best and most effective as well as efficient way of connecting various big companies that have a common interest of business growth. Through such platforms a lot of ideas relating to business are exchanged thus boosting this sector. Use of social media has been the way to go that many businesses have adapted. They are unavoidable if any business has the vision of growing and remaining relevant to their clients. Such platforms include the use of twitter, facebook and linked in. in as much as these media are of importance to business, they however need to be used effectively and with a lot of caution to ensure the risks are kept to the minimum. Use of social media to improve knowledge sharing A MNC is a form of enterprise which operates in different countries but its management is done from one central country. In this regard then social media plays great roles such as in areas of knowledge sharing (Ellison et al., 2007). With social media platforms project management is improved and the rate at which specialized knowledge is spread among stakeholders is increased. Information can be shared through the creation of networks that are special and such information can be shared easily via a web-based knowledge management systems. This system can be used in the capture, retention and communication of results from projects and also important knowledge from staff. This system prevents the draining of knowledge and training is provided as a result of some occurrences (Mostaghimi and Crotty, 2011). The use of micro blogs, YouTube, twitter and face book groups enables human resource professional and the leaders that are in the learning process to reinforce the knowledge sharing spi rit on all the enterprise platforms found in the dispersed workforces. Learning tools are easily posted on these platforms in the flow of daily work and this reduces age-era. There has been a tremendous percentage increase in social networking and browser based sharing of files in many corporate networks (Hooff and Huysman, 2009). With the use of social media one can access knowledge or seek clarification by simply asking experts in the corporate circle within the created social platform without having to having to schedule one on one meeting. This saves on time and resources. Blog series can be created and be used for online training of new staffs or to improve on the knowledge base of its staff. Words and video clips can be created and shared with ease. Good blogging techniques can be taught by experts in a corporate business environment where their staff can access instructions on areas such as reader-centric writing and learn a lot. There is also the use of an expert directory which can be used to simplify and improve the connection of experts in various subject matters to their member organizations. Directories can be created where they take the face of face book and through them one can access the various competences and expertise of people and the type of projects they are working on (Kaplan and Haenlein, 2010). This has been achieved via LinkedIn where people can share and exchange knowledge depending on their area of expertise. Use of social media to build social capital Its evident through research that social capital can be built via online networks such as face book and twitter. Its through online ties that are more bonding that the effectiveness of these platforms in generating social capital has been felt. Close networks are easily created in these forms. Connections are usually established via social media for example twitter can lead to the formation of some two forms of social capital and they include the bridging and bonding capital. The bonding social capitals are more applicable in the multinational corporations. In which trust and norms are build in such existing groups. In relation to social capital social networks have value to a great extend. This is because social capital is the collective value of all social networks as well as whatever arises from these groups to do things for one another (Burke et al., 2011). With bonding social capital, the tires between people that are already connected are strengthened. This is possible via sites like face book. In this site most people already know each other and therefore such existing relationships are kept going. With the bridging of social capital people with business ideas that did not know each other get to be connected and thus are able to discover some common business points of intersection. This is mostly possible on twitter. Through this platform small talks about some business ideas may arise and grow into great ideas. this is achieved via comments, mentions and likes. The ultimate currency of social capital is trust and this can be easily built via social media through the continuous connections. Some twits may be collected and kept in goggle docs spreadsheets (Ellison et al., 2007). Social capital is thus seen to increase with increased availability of information and solutions via social media platforms such as the announcement of special dates and events for the multinational corporation on their social platforms. Use of social media to support innovation The potential of social media in driving innovation has not been widely exploited by its many users. The innovation strategic goals can be integrated in the communication strategy of any multinational corporation (Sie, et al, 2012). If both processes are orchestrated together exponential opportunities are given in the improvement and development of services and products that the companies may be promoting. This gives the user a platform to co creates. The paradigms of innovation are rapidly changing and the importance of social media is increasing. In this case the social media platforms such as twitter and face book are making it able for the companies to gain a wider outreach and more participation especially from unknown communities and people. The unexpected effects can be well targeted by the social media and create good masses. These platforms are able to keep the doors of dialogue open and thus very responsive. For instance a twitter customer support handle can be created and thus have a great impact (Vitak, 2014). This allows for a quicker and efficient exchange of feedback. While working on innovations using social media customers ideas can be harvested put together and analyzed. In this way both the customers and the involved companies win in the sense that the customer feels satisfied and appreciated and the companies improve on their innovations. The companies involved are able to use the collective intellect of the community in the creation of new products. Brand advocacy and loyalty is further enhanced if the customers are involved in the decision making (Sloep, 2009). Some companies such as Dell and LEGO have used such platforms in which they invite customer ideas in service and product improvement and this has seen them make various new products almost annually. When one focuses on the traditional innovation methods in this competitive business world such as focus groups they may fall out of business. This is because they are time consuming and therefore there is need for their substitution using social media. Its been proved that those companies that are embracing the use of social media for product innovation have gained more business benefits, faster adoption and time to the market, low costs of products and the development costs have also been seen to be low (Krmer, et al., 2014). Social media innovations have resulted to a market share that is high and the improvement of the revenue for products. Use of social media in problem solving Despite being multinational corporations, these businesses also have problems that they encounter in the running of their businesses. These challenges can be solved partly or fully through use of social media. Some of the problems and hoe they can be solved include; Weak brand awareness; if their brand awareness is weak social media can be used to reach a broader audience. Various steps can be taken in first identifying whatever that makes the companys products valuable and define why people should choose them and not their competitors. Approach the users on social media platforms as though you are one on one and clearly indicate why they need to be chosen (Marwick and Boyd, 2011). Decline in the customer retention; its more difficult to acquire a new customer than it is to maintain the old ones. Its therefore necessary to make use of soil media to stay in touch with customers. The social channels should therefore be taken as though the areas where potential customers hang out. Be as responsive as possible to the customers through use of a community manager. Poor online reputation; the online rating sites should not be given the power to control the companys business. Actions should be taken immediately to retain the customers trust in the company if whatever is trending is not anywhere near the truth. But however this should not be assumed entirely. The customers can be driven to one conversation channel which correctly routes them to the review sites that are more positive. Low search visibility; this can be solved by improving search visibility on goggle (Lightle, 2010). The company can publish links to the contents that are direct to their website. On face book this can be achieved using face book ads. Declining connections with customers; it has been a challenge to retain connections between companies and customers o a personal level. The customers should be connected to the company in a meaningful way to humanize the brand and build on good relationships. Its therefore necessary to monitor the social channels and give authentic responses and seek to offer solutions to problems. This can be done by engaging with the face book user comments on their company site. Slow sales; this challenge can be easily solved using social media connections. For example use of face book ads in identifying and reaching out to the right customers the said ads should be compelling enough to the buyers (Antheunis et al., 2015). Landing pages and lead forms can be used to drive conversations. The associated risks of using social media in business If social media use in business is not managed well it can have some dire consequences on any multinational business. There are some associated risks while using social media that every company has to be aware of. Reputation management; A risk to a companys reputation can be caused by use of social media where negative publicity could be created (Lee, 2011). For instance, an inappropriate response may be given to a comment by the company leading to legal issues. Security issues; the risk of hacking has always been in existence as well as spy ware and bugs. The confidential company information is leaked out. Engagement in a two-way dialogue and the potential criticism; a company can interact directly with its customers via social media and this gives some customers a public platform where they can voice their dissatisfaction. Trust as part of culture; trust is a prerequisite for any employee to use the social media in a successful way. Without this trust a risk can occur. Wastage of company time; there is addictiveness that comes with the use of social media and employees may spend much time on these sites (Kaplan and Haenlein, 2009). This may compromise their work and the business operations. Social media plays great roles in business growth however it has to be used effectively to avoid the risks that come with its use. The platforms should be inspected to ensure they are operated under minimal risks. References Antheunis, M.L.; Vanden Abeele, M.M.P. and Kanters, S (2015). The Impact of Facebook Use on Micro-Level Social Capital: A Synthesis. Societies , 5, 399419. Burke, M.; Kraut, R. and Marlow, C (2011). Social capital on facebook: Differentiating uses and users. In Proceedings of the SIGCHI Conference on Human Factors in Computing Systems; ACM: New York, NY, USA, 2011; pp. 571580. 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