Essay on Company Q’s Attitude Toward Social Responsibility

Company Q’s Attitude Toward Social Responsibility Company Q’s current attitude toward social responsibility demonstrates a bias toward the outdated shareholder model, rather than the stakeholder interaction model of corporate governance, as well as a significant lack of concern for the fundamental wellbeing of some of its primary stakeholders. Arguably, however, even the shareholders themselves may ultimately be frustrated in realizing the maximum potential return on their investment in this company due to lost opportunities as a result of Company Q’s poor corporate citizenship and failures to achieve social responsibility. By closing two stores which happen to be in higher-crime-rate areas of the city and justifying these closures†¦show more content†¦Even in the event that no competitor fills the void left by Company Q - simply stating the result in terms of corporate citizenship and without respect to strategic planning - Company Q has potentially contributed to the further economic destabilization of these areas by removing grocery services from communities that need them. This causes further community erosion when those who depend upon such services decide to move out of the affected area, and those who cannot leave end up living in an even more impoverished community than it was before. Company Q also shows a lack of concern for the consumer and the community upon whom they depend for their business by delaying for several years to provide a sufficient variety of healthy alternative and organic products. This is despite many years of requests by customers for such products. Moreover, the decision by Company Q management to ignore requests from the area food bank for donation of day-old products and to throw away valuable resources instead because of concerns about the potential for fraud demonstrates a breakdown in connecting good corporate social responsibility and common sense. Having neglected to identify the obvious philanthropic opportunity that presents itself in offering goods up for charity which canShow MoreRelatedSocial Responsibility And Its Impact On Society1444 Words   |  6 Pageschains, and Company Q is no different. Locally owned and operated businesses are an essential part of today’s society. Too often companies stress the quantity of pr ofits over the quality of products. Not only do these kinds of choices belay negative social responsibility, this type of attitude can damage a growing business’s reputation. Company Q’s lack of concern for the underlying welfare of some of its primary stakeholders shows an attitude of impartiality towards the bottom line. Social responsibilityRead MoreCompany Q and Social Responsibility952 Words   |  4 Pagesï » ¿Company Q and Social Responsibility EST1 Evaluation Company Q’s attitude toward social responsibility reflects a negative reputation on them as a corporation in their current community. The geographical location in a major metropolitan area should sustain the business with a solid consumer base and maintain reliance of current investors. However, they closed two stores in high crime areas for consistently losing profits, waning investor trust and damaging employee faith. The decision to closeRead MoreEst1 Task 1723 Words   |  3 PagesI am tasked is to evaluate Company Q’s current attitude toward social responsibility and recommend three actions that Company Q could take to improve their attitude toward social responsibility. In evaluating Company Q’s attitude towards social responsibility there are a couple of examples that displays the company’s lack of social responsibility awareness. Company Q closed a couple of stores in higher-crime-rate areas with a claim that the stores are consistently losi ng money. The issue hereRead MoreSocial Responsibility in the Workplace687 Words   |  3 Pageswhich you: A.   Evaluate Company Q’s current attitude toward social responsibility. B.   Recommend three actions that Company Q could take to improve the company’s attitude toward social responsibility. C.   When you use sources, include all in-text citations and references in APA format. A business exists because of relationships between employees, customers, shareholders or investors, suppliers, and managers who develop strategies to attain success. Social Responsibility is an organization’sRead MoreEssay on Est1 Wgu719 Words   |  3 Pagesâ€Å"Corporate Social Responsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large.† (Baker, Mallen (June 8, 2004). Corporate Social Responsibility: What Does It Mean? May 15, 2013 from www.mallenbaker.net/csr/definition.php). Mallenbaker.net. Retrieved Keeping this definition in mind while evaluating Company Q’s attitude towardRead MoreEst1 Task 310.2.1-05 Essay1245 Words   |  5 Pages1-05 Opportunities for Company Q to lead in the area of social responsibility Company Q’s attitude towards social responsibility appears to be nonexistent, possibly through ignorance or disconcert. Either way the lack of social responsibility affects their business and community’s perception of their business. It appears that the company management has never developed and ethics program that clearly defines the corporate culture including provisions for social responsibility. Profits, or at leastRead MoreEst1 Essay690 Words   |  3 PagesKinikini Student ID: 265037 Business Management Many believe that business entities should have an ethical duty to be socially responsible, to work towards increasing its positive effects on society while decreasing its negative effects. Many organizations look for opportunities to be socially responsible while also creating shareholder wealth. Company Q is a small local grocery store chain located in a major metropolitan area. They have recently closed a couple of stores in higher-crime-rate areasRead MoreEssay on Est1 Company Q942 Words   |  4 PagesSocial Responsibility BUSINESS ETHICS EST1 July 1, 2013 Part A Social responsibility is an important part of business today. Company Q’s current attitude towards social responsibilities seems insensitive. This company has shown that profits drive the success of their business. Company Q is closing two stores in high crime rate areas due to lost revenue. It did not seem the company explored other options that would have less impact on the community and their businesses. By exploring other optionsRead MoreEssay on Est1 Task 310.2.1-05638 Words   |  3 PagesConcepts of Social Responsibility Riccio Buggs Business organizations today are socially and ethically responsible for doing the right thing, exercising good judgment in their business activities with employees, stakeholders, customers and the community. Business organizations emphasis should not only be on profits, but also on how business decisions impact society. Company Q is a small grocery store chain located in a major metropolitan area. This company will be evaluatedRead MoreEssay on EST 1 Task 310.2.1-051062 Words   |  5 Pagesï » ¿EST 1 Task 310.2.1-05See how we can help Because Company Q is a small, local grocery store in a major metropolitan area it can at times be very over whelming. Big chain stores are putting family owned stores out of business on a constant basis. This reason, along with social responsibility taking hold of companies, brought on by consumers demanding that companies adjust their thinking from a profit-seeking standpoint to being socially and ethically understanding to all consumers in their business

Amazon Your Industry Extracting Value from the Value Chain

Amazon Your Industry: Extracting Value from the Value Chain Way cool Web sites and measures of hits and eyeballs are clearly driving revenue in the dot-com world. To date, these metrics have provided the basis for the extraordinary market valuation of the new generation of Web retailers. In the near term, most e-tailers must focus on surviving the incubator phase of the Internet retail industry by gaining enough market shares to become a sustainable player. Efficiency and productivity lie in our future, Amazon.com Inc. s president, Joe Galli, has said. Eventually, however, the basis of competition will change. In the long term, we believe that sustainable competitive advantage in the Internet Economy will result from†¦show more content†¦Since half of each year s sales come from backlists, the largest publishers maintain a total library that can exceed 30,000 titles. The $5 billion United States book-printing industry has a similar structure: Though the total industry contains thousands of printers, the top-five companies account for 40 percent of the market. Trade-book printing represents a surprisingly small portion of the $210 billion printing industry. Even for R.R. Donnelley amp; Sons Company, the largest independent trade-book printer in the United States, trade books account for a mere 15 percent of total revenues. Commercial printing of catalogues, retail inserts, business forms, advertising coupons, instruction manuals, annual reports and marketing brochures provide the bulk of the sales. In fact, if you add up all of the commercial printing done for the General Motors Corporation, the annual total would exceed the print spending for 99 percent of the book publishers in America. From that perspective, trade-book printing looks rather minor. For some in the publishing industry, wholesalers provide the next link of the chain. Though most large retailers maintain an integrated distribution network, independent booksellers depend on large wholesalers. Wholesalers buy in bulk from publishers and then ship smaller quantities to independent booksellers and sometimes to chain stores. Publishers ship about 40 percent of their volume to wholesalers versus about 45 percent direct to bookstores. TheShow MoreRelatedExamples of â€Å"Good† Strategic Management1293 Words   |  6 PagesSeventy seven percent of its profits came from theme park operations that year. Twenty two percent of profits came from consumer products (licensing Mickey Mouse, Donald Duck, etc.). Only one percent of profits came from filmed entertainment in 1984. Indeed, Disney had become a different company from what Walt Disney and his brother Roy O. Disney left behind. In 1971 when Roy O. Disney died (he became CEO when Walt died in 1966), 50% of the comp any’s profits came from filmed entertainment. The DisneyRead MoreThe Adoption And Viability Of A New Business Model2754 Words   |  12 Pagescompanies have started to develop their own content. By researching the industry trends, we will understand why and how companies use 2-sided platforms to bring together and satisfy two different groups of users. Furthermore, with particular focus on Amazon and Netflix, we will expand the scope of our competitive analysis by exploring other strategies that can be used to gain a competitive foothold across the different media industries. By discuss the sustainability of the different strategies, we intendRead MoreHistory of the company Amazon.com 4277 Words   |  18 Pagesretailer. Amazon.com started as an online bookstore, but soon diversified, selling DVDs, CDs, MP3 downloads, software, video games, electronics, apparel, furniture, food, toys, and jewelry. 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Digitization and Woolworths

Question: Discuss about theDigitization and Woolworths. Answer: Introduction: Woolworths Limited is an Australian public company operating in the retail industry. It was founded in the year 1924. The organization serves in Australia, New Zealand, and India. The organization has its name in the list of top twenty large retail organizations. The organization has created job opportunities where more than 202,000 people are employed. The organization is operating for nearly a century, which was possible due to the quick adaptation of the organization to new technologies (Cameron et al., 2015). It has made the organization sustainable. The purpose of this report is to find out the goals and objectives of the organization, and the ways those goals and objectives strategically align with the new technology adopted by the organization. The tools that are used by Woolworths to understand the competitive environment are critically examined here. It also analyzes the threats the organization faces in the competitive market it is operating in due to the complex and dynami c technological environment. Goals and Objectives of Woolworths: The basic goals and objectives of Woolworths for the online and store-base sales are same which are maximizing the sales, reaching to more customers, and others. There are some differences in the goals as well. The approaches towards those goals are also different in nature. The objectives for the store base sales include building a client and store led culture in the market. It helps the organization to serve the consumer needs more effectively. It also includes adding value to the products sold in stores. According to Akbar, and Ahsan (2014), it empowers the customers with more satisfaction from utilizing the products offered by Woolworths. On the other hand, the online sales incorporate generating sustainable sales momentum as an objective. In the views of Santos, Svensson and Padin (2014), it will help the organization to create a long term rapport with the customers; it will also ensure that the sales amount will not fall even though the market dynamic changes. The online sales also include hassle free end-to-end service providing as a goal. It will help Woolworths to minimize cost by increasing efficiency in the service. In turn, it will increase the profit margin for the organization. Tools Woolworths Use to Snalyze the Market: To analyse and understand the competitive environment, Woolworths use the PEST analysis as given below: Political factors: The Australia New Zealand Closer Economic Relations Trade Agreement (ANZCERTA) helps the organization to sale simultaneously to both the countries markets. Due to the political stability in both the countries, the organization and its shareholders operate safely. Economic factors: The standard of living in Australia and New Zealand is high. Per capita income of Australia and New Zealand are $42,450 and $30,750, respectively. It shows that both the economies are sound. Socio-cultural factors: The customers residing in Australia and New Zealand have a healthy culture and thus demand organic and healthy products. The sustainability strategy of the organization ensures that the quality demands of the customers are met. It also ensures environment friendly strategies from Woolworths (Devin Richards, 2016). Technological factors: The innovations regarding information and communication technology has increased its efficiency. The technological innovations add values to the services Woolworths provide. The service oriented architecture software used by the company reduces cost and helps the customers as well (Goodridge et al., 2014). These factors help Woolworths to understand where it stands in the market and how it can move to a better position, ahead of its competitors. Strategic Alignment: The role of strategic alignment between goals and objectives and the technology that facilitates the achievement of the objectives stated above are crucial for the organization. It ensures that the strategies implemented by the organization bring success to Woolworths. For example, the sustainability strategy of the organization aligns perfectly with the goal of generating sustainable sales momentum both online and store-based sales. To improve the alignment the organization can use a better communication system. The organization can use advanced technology for this purpose. It can take help from the convergence of big data, cloud computing, social, mobile, and other technologies. It will help in serving the organizations objective and goals. Following the views given by Parsons and Wilkinson (2015), it can be stated that, it will also increase the effectiveness of the strategies and thus serve the purpose of those in meeting the goals and objectives for different sales options. It w ill also help the organization in keeping track o the strategies and their effectiveness. Benefits of Data Management: According the ideas given by Xiaofeng and Xiang (2013), the benefits of data management are huge and can help Woolworths in serving the customers better. It helps in keeping the data secured. Important data will not be lost even if the servers overload. It will also provide security for the details of the customers. Data management will help in citations. The organization can use this data for future references and experiments. It will grip Woolworths a better grip on the market. Following the views of Galloway, Loewen and Vrbsky (2015), it can be said that, data management will help the organization in understanding the effects of their product changes on the customers. This way it will also help Woolworths in creating strategies for future. Proper data management will best reflect the gaps between the expectations of the customers and the performance of the organization. It will provide assistance to both the understandings of the micro and macro environment of the market. Data man agement also will help the organization to observe the effects of investment. Importance of Adopting Web2 and Web3 Technologies: Web is a network of complex system of interconnected servers, supporting formatted documents. In 2006, web2 was introduced which overcame the limitations in web1. Web2 helps in both reading contents online and contribute as well. As stated by Frederick, Hawryszkiewycz and Kang (2014), it can be said that, this technology links process, people, and technology with its advanced features. It has brought tremendous opportunities for e-commerce. For example, there are many companies like Amazon.com, which has no brick and wall stores but operates online. According to the ideas given by Zhu et al. (2014), it has led to a digital environment where it is easy to share information due to the low cost and easy availability of the required products. Web2 provides the opportunity of having a conversation online without even being at the same place, and more importantly at very low cost. Web3, released in 2016, has turned the web into a database. According to Zhang, Li and Zhang (2015), it helps the people in identifying their choice products online and shares the information the way they want. Adopting web2 and web3 technologies will help the organization in having a direct conversation with the customers at a very low cost. It will also help to know their preferences and demand. Fulfilling the customers requirements will become easier. Threats Woolworths Face: The threats the organization can face due to this complex and dynamic environment are huge. Customer satisfaction is presently every organizations primary target. Everyone can see the preferences of the customers and hence can produce accordingly such that the products meet every requirement of the customers. This way, the products that are deviating from the requirements even slightly will not face demand in the market. According to Nath, Dhar and Basishtha (2014), this technological environment also helps the customers in complaint lodging and reviewing the organizations. An unhappy customer thus can hurt the reputation of the organization. Hence, the goals of the organization have to be changed accordingly to the customer preferences. There are other threats that this technological environment possesses. It promotes a tremendous competitive environment. A firm thus requires to perform at its best otherwise it will lose its market share. Woolworths requires analyzing each of these potential threats in order to survive in the market. Conclusion: In conclusion, it can be said that Woolworths is a huge organization operating in the retail industry of Australia, New Zealand, and India. The organization is currently having a good rapport with the customers, but the recent technological changes have created a competitive environment for the organizations operating in this sector. Now, the customers have more power as they can express their feelings regarding products in front of the whole world online. Any bad review from the customers will hurt the reputation of the organizations like Woolworths. The strategies of the organization have so far aligned with the objectives and goals of Woolworths. To keep the sustainability in the market, the organization uses PEST analysis, which shows presently, Woolworths customer base is well incorporated in the organizations strategies and the customers appreciate it. The organization has the ability to take the advantage of data management and technological innovations to grab a better share of the market. Introduction of web2 and web3 has the potential of creating a guideline for Woolworths which will help the organization in addressing the customers in a more careful and detailed manner. Recommendations: Use data management to address the threats that come in the dynamic technological environment. Adopt web2 and web3 technologies to connect with the customers more efficiently. Create strategies following the data management results. References: Akbar, S., Ahsan, K. (2014). Analysis of corporate social disclosure practices of Australian retail firms. International Journal of Managerial and Financial Accounting, 6(4), 375-396. AO Dos Santos, M., Svensson, G., Padin, C. (2014). Implementation, monitoring and evaluation of sustainable business practices: framework and empirical illustration. Corporate Governance, 14(4), 515-530. Cameron, A. J., Sayers, S. J., Sacks, G., Thornton, L. E. (2015). Do the foods advertised in Australian supermarket catalogues reflect national dietary guidelines?. Health promotion international, dav089. Devin, B., Richards, C. (2016). Food Waste, Power, and Corporate Social Responsibility in the Australian Food Supply Chain. Journal of Business Ethics, 1-12. Frederick Rose, J., Hawryszkiewycz, I., Kang, K. (2014). When and how to facilitate the introduction of new knowledge processes in organisations. VINE: The journal of information and knowledge management systems, 44(2), 210-227. Galloway, M., Loewen, G., Vrbsky, S. (2015, June). Performance metrics of virtual machine live migration. In Cloud Computing (CLOUD), 2015 IEEE 8th International Conference on (pp. 637-644). IEEE. Goodridge, R., Tunaley, D., Kotsonis, S., Armstrong, L., Beikoff, B., Smylie, T. (2014). U.S. Patent No. 8,754,284. Washington, DC: U.S. Patent and Trademark Office. Nath, K., Dhar, S., Basishtha, S. (2014, February). Web 1.0 to Web 3.0-Evolution of the Web and its various challenges. In Optimization, Reliabilty, and Information Technology (ICROIT), 2014 International Conference on (pp. 86-89). IEEE. Parsons, A., Wilkinson, M. H. (2015). Retailing in New Zealand: Where Are We and Where To Next?. In European Retail Research (pp. 141-160). Springer Fachmedien Wiesbaden. Xiaofeng, M., Xiang, C. (2013). Big data management: concepts, techniques and challenges [J]. Journal of Computer Research and Development, 1, 98. Zhang, J., Li, X., Zhang, L. (2015, October). Exploring the virtual reference service based on Web 3.0 environments in the library. In Biomedical Engineering and Informatics (BMEI), 2015 8th International Conference on (pp. 862-866). IEEE. Zhu, C., Shu, L., Hara, T., Wang, L., Nishio, S., Yang, L. T. (2014). A survey on communication and data management issues in mobile sensor networks. Wireless Communications and Mobile Computing, 14(1), 19-36.

Measuring the Impact of Social Media Challenges, Practices and Methods

Abstract As a consequence of social media coupled with the direct and indirect persuade of social media promoters, in the present day clients are expected to make purchases on what they read and see in forums referred to as ‘social’. However, this can only happen if the information is brought forth by an individual or entity they have built trust in.Advertising We will write a custom coursework sample on Measuring the Impact of Social Media: Challenges, Practices and Methods specifically for you for only $16.05 $11/page Learn More In addition research has shown that firms have been able to bring back dejected clients and shareholders by way of social media. This is the reason why a focused and strategically set line of attack has become a vital portion of any whole and directed marketing scheme which must as well be crafted by employing fresh and upcoming techniques. The way in which to go about this successfully has been discussed here in d etail. Introduction The reference social media is used to describe the use of World Wide Web based and cell phone technologies to make the exchange of information an interactional chat. The use of social media does not just stop at socialization or interaction; it is being utilized to a very large extent in business. Its use is expected to hit even higher levels as technology advances and the ways of conducting business scale onto new heights (Scoble Israel, 2006, p. 3) Social media comes in various types which include; publications, cyberspace forums, weblogs, public web log, video, and social bookmarking, among others. When it comes to commerce or doing business, social media is generally referred to as end-user-generated media, popularly referred to as CGM. A familiar line running through all classifications of social media is a combination of technology and social relations for the co-generation of value. Individuals get hold of information, education, reports and other facts f rom electronic media and print media. Social media as relates to e commerce are different from industrial or conventional media, like dailies, TV, and motion pictures. They have become fairly affordable and accessible to allow anyone, even private business people to put out or access information, as may be measured up to industrial media, which commonly call for considerable resources to put out information. The foremost characteristic of social media as relates to doing business is the capacity to reach large addressees. For instance, a blog post or a TV advert may get in touch with millions of people around the world. Social media means are commonly accessible to the public at modest or no cost.Advertising Looking for coursework on communications media? Let's see if we can help you! Get your first paper with 15% OFF Learn More Social media challenges Social media presents a prospect in the carrying out of business. On the other hand, it offers its fair share of chal lenges. It has in most times been reiterated that social media is possibly one of the most influential up to date commerce tools. With influence comes accountability and social media is no exemption to that tenet. Viewed from a commerce perspective, social media offers a new world of prospects and it is moving as well as essential to be at pace with the most up-to-date advances on the social media stage. In business, social media is not a crosscut to victory (Sommer, 2011). At the same time the employment of social media for commercial benefits is no walk in the park. There are always challenges which need to be overcome and opportunities which need to be taken advantage of. One of the leading challenges in this field is privacy. Businesses have to be aware that social media users do not stomach confidentiality infringements. It does not matter the forum on which one operates, be it Twitter, print media, or any other, but if one does not get the confidentiality elements right then t hey are going to suffer. At the same time, confidentiality is extremely paired with security. Cybercriminals are continuously targeting both businesses and customers with the aim of embezzling an individual’s identity or vend illegal commodities. They as well trail victims and interrupt processes with malicious programs. Therefore, both enterprises and customers are left between a rock and a hard place as far as the use of social media for business is concerned. For a business to effectively reach out to people it has got to make public what it has got to offer (Bodnar, 2011). Through this, individuals with ill motives can get it and conduct other fraudulent activities that will affect that enterprise and even extend to its clients. Another challenge related to this is transparency. At the same time as one needs to esteem a user’s confidentiality, as an enterprise one is expected to be absolutely transparent in their processes.Advertising We will write a custom co ursework sample on Measuring the Impact of Social Media: Challenges, Practices and Methods specifically for you for only $16.05 $11/page Learn More The approach here may involve informing the users all they require to know and avoiding to enquire from them all that they do not need to tell. Lack of transparency will lead to difficulties in setting up reliance with one’s users. An absence of trust often if not always leads to a lack of clients. Social media has a Unique Selling Point which at the same time presents a challenge to businesses. Social media’s USP lies in diversity. As an enterprise, one can interrelate with persons from various nations, ways of life, religious affiliations and ethnic backgrounds. In most times, enterprises find it an uphill task to match up to such varieties (Idugboe, 2011). This is the reason as to why it is often touted that social media has got a language of its own and failure for one to gain knowledge of it, a nd then he or she does not belong to it. Another major challenge to businesses as far as social media is concerned is business integration. In most times, enterprises find it easier said than done to incorporate social media with their main line of activities. Social media has an effect on just about each role of an enterprise. Almost all functions of every business deal with employees and clients. There is normally a learning curve in the process and when that gap is sealed, enterprises can appreciate the value of incorporating social into their complete system. A number of businesses have been faced with the challenge of union of social media and mobile technology. As a matter of fact, more or less all social media networks have a great share of mobile users. Therefore businesses have no choice but to adapt to this way of doing things or be left behind. Mobile technology brings forth a vital bit in the social media field and such technology will play a major function in assisting enterprises tap the exact prospect of social media.Advertising Looking for coursework on communications media? Let's see if we can help you! Get your first paper with 15% OFF Learn More Relationships in social media do present a challenge particularly for businesses. It takes time for relationships to get established. Looked at from the point of view of social media, it is essential for enterprises to be at a position to uphold a healthy association with their customers. It is a big challenge for businesses to uphold healthy associations with each and every person that they deal with. Nevertheless, relationship is far more precious as may be compared to any once sale and social media is not to be left out of that rule (Odden, 2009). When a commercial entity goes ahead and adopts social media as one of the ways to assist it grow, after some time an evaluation has got to be carried out to establish the return on the venture. This is what is popularly referred to as return on investment or ROI. Determining the return on investment of social media is not one of the easiest things to do. As a matter of fact, a lot of enterprises give up their social media ambitions just because they are not in a position to assess if they have been able to come up with the anticipated return on investment. As times go by, it has come clear that technologies advance impressively. On the other hand, people do not and if they do, it is to an extent that cannot be matched to that of the technology itself. This has become a major challenge in the adoption of social media in businesses and is the reason why venture financiers will value a technology firm at 3-14X returns while a people-founded organization will be fortunate to be valued at 0.7X returns. Due to one reason or another, people do not just match up to latest trends in matters social media. This is the reason as to why there is need for fresh inventions of social media that will go further that enhancing the exchange. Products are required that will assist deal with the flood of inventions in business social media. It has been shown that social media technologies happen as expected in businesses which pay att ention to the commentary. This has proved to be a challenge to many establishments since they just see social media technology as a stage to have an attendance. This means that such firms for instance establish a Facebook page, develop a web blog or post a number of expedient messages. The institutions approach social media as a one-sided forum where they will drive their communication. Such an advance toward social media has often if not at all times not made the grade as the firms are not utilizing and relating with the substance that clients are presenting to them. The challenge is even greater with modern-day ways of doing business, sub-contracting. Firms nowadays sub-let their call centers, social media and other operations to other organizations. If a customer is drawing attention to a commodity or service fault, having a support matter, classifying fresh commodity information that is required, among other comments, such observations are channeled to the wrong quarters. The ou tcome is not positive in such cases since the firm(s) has a social media presence but do not use such presence effectively. Social media practices and methods A lot of promoters and other users of social media are not precisely certain about the disparity between best and worst practices when it comes to involvement in the social web where aims are commercially prompted. Classifying the most excellent and most horrible practices is a work in progress as technologies advance. It is always best to begin with the fundamentals that will hold true in spite of these alterations. For a commercial entity to effectively employ social media for maximum benefits, the firm needs to begin with a plan and then tactics to follow. The mistake that many make is beginning with tactics as opposed to planning (Yochai, 2006, p. 58). Players need to explore and set up a social media guideline entailing the addressees, aims, tactics, tools and systems of measurement. Social media lays out a big challenge for organizations as a lot of conventional management approaches are not appropriately suited to handle clients who no longer have the desire to be talked at but who would like business entities to pay attention, properly connect, and act in response. In order to be up to the task some experts have come up with a number of functional building blocks that hold vital significances for the way in which companies should connect with social media. Through critically looking at these building blocks; individuality, exchanges, sharing, existence, dealings, repute, and groups, organizations can examine and become aware of the way in which social media activities show a discrepancy in terms of their purpose and effect, so as to build up a matching social media policy based on the fitting equilibrium of building blocks for their group of people. All the time more, the reference social business is being applied. This means that social media is not just an advertising or selling discipline, but that it bears numerous applications in a firm such like customer care, sales marketing, research and development and human resource management. The foremost best practice of social media in any organization is the being there of more open and a shared association with the inside and outside world. Such a business is what can be referred to a social business where social media is credited with breaking down obstructions that could not allow any interactive association. One of the vital elements in thriving social media commerce is coming up with social authority. Social authority is built up when a person or an entity sets up themselves as specialists in their given area of operation, and as a result turning into an influential authority in that specialty. It is by way of this course of crafting social authority that social media turns out to be effectual (Oxford Media Works, 2008). This is the major reason as to why one of the introductory aspects in social media has become that o ne cannot entirely control their communication by way of social media but rather they can just embark on taking part in the discussion with the expectations that they can attain a considerable control in that chat. It is important to note that this chat involvement has to be smartly carried out because despite the fact that people are opposed to marketing in general, they are even more opposed to express or obvious selling by way of social media forums. This may come out as counter-shrewd but remains the major explanation putting up social authority with reliability is so essential. A promoter can normally not look forward to people to be friendly to a promotional message per se. A social media practice that has proved to be effective over time is â€Å"giving to get†. Flourishing social media promotion plans entail paying attention and taking part (Charlene Bernoff, 2008). The said participation revolves around giving value ahead of anticipating any returns. This might not be sales as normally is conducted. However, firms can without doubt add to sales as a result. Enough resources and time need to be invested in order to anticipate success. It is essential to project work hours, who, what, at what time, which way and which place with the objective of accomplishing something, not just trying out. If a social media attempt turns out to be flourishing, its measurability will turn out to be an even larger matter if one does not arrange for it. For instance, taking into service a community manager may not be necessary when a social media scrutinizing program is kicked off or with a new firm, but a post description and understanding of the position needs to be standing by in the case that it is called for. Another best practice with social media as far as e commerce is concerned is being clear with one’s objectives and their identity. Failure to do this could most likely push away the very addresses one is trying to link up with (Methods of social n etworking, 2011). Goals, lines of attack, and doing enough research as regards to a community should make it clear what forms of business communication are suitable. Being clear with reference to objectives might come in the form of affirming an intention. For example, â€Å"Brand ABC has crafted this Twitter page to assist clients come up with better options concerning Topic ABC.† It is always OK if objectives are to raise sales, but taking part should be centered on offering the form of worth that enhances sales – not trying to make sales directly. It is always best practice for an entity to understand that they do not control the message. As has been the case there is an affinity to want to treat social media involvement like promotion where the capacity to be in command of messaging is the custom. The moment information or media is accessible on the social web, the public will as one might expect mash it up, stretch it and re-form it in accordance to their desires. Brands have to safeguard their identities, patent and intellectual belongings as a matter of fact. However, promoters need to support the interpretation of their marketing message(s) as opposed to controlling such messages. Promoters as well need to encourage taking part, response and co-creation. As comfort ranks improve with social media involvement, firms will certainly see prospects to promote involvement with communications, particularly with brand promoters (Kietzmann, Hermkens, McCarthy, Silvestre, 2011). Growing associations and community within social participants on the web can make possible buy in, offer very useful feedback and mass sourcing prospects. The issue of ROI or return on investment has been mentioned earlier in this discussion and it has to be highlighted here that as a best practice there has to be a mechanism for assessing it. The mechanism might be a worth pegged on enhanced commodity awareness, solid sales fronts or expense savings. ROI is easily determi ned in instances where an affirmed objective for the social media venture is existent. Conclusion and recommendations From the discussions here it is evident that employment of social media as a means of marketing has come across an entire set of fresh challenges. A Trust Study conducted in 2010 showed that it is most efficient if promotional undertakings by way of social media concentrate upon the actual setting up of influence. A person entrusted with a promotional job in a given organization has to sincerely prove to people of their real objective, familiarity and capability in a given area or industry by way of offering helpful and precise information on a constant basis minus an advertising approach visibly associated. If this can be achieved, confidence with, and of, the receiver of that information, starts to grow as one would expect. This individual or entity turns out to be a thinking head and value giver. They thus position themselves as consultants who can be relied upon, and not just marketers. In such scenarios, customers naturally start to incline toward the commodities and/or services. Reference List Bodnar, K. 2011. 4 Social Methods for Generating Word of Mouth. Web. Charlene, L., and Bernoff, J. 2008. Groundswell: Winning in a World Transformed by  Social Technologies. Boston: Harvard Business Press. Idugboe, D. 2011. 7 Social Media Challenges You Will Have to Overcome. Web. Kietzmann, J., Hermkens, K., McCarthy, I., and Silvestre, B. 2011. Social media? Get serious! Understanding the functional building blocks of social media.  Methods of social networking, 2011. Web. Odden, L. 2009. Best and Worst Practices Social Media Marketing.  Web. Oxford Media Works. 2008. Worst Practices in Social Media Marketing. Web. Scoble, R., and Israel, S. 2006. Naked Conversations: How Blogs are Changing the  Way Businesses Talk with Customers. Hoboken, N.J: John Wiley. Sommer, B. 2011. The Next Social Media Challenges. Web. Yochai, B. 2006. The Wealth of Networks. New Haven: Yale University Press. Kaplan, A. Haenlein, M. 2010, Users of the world, unite! The challenges and opportunities of Social Media Business Horizons 53 (1): 59–68. This coursework on Measuring the Impact of Social Media: Challenges, Practices and Methods was written and submitted by user Am1ra to help you with your own studies. 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