Impact of Social Networking Websites on Business

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IMPACT OF SOCIAL NETWORKING WEBSITES ON BUSINESS
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Asheri George MatembeleApril 16, 2013|

Table of Contents
Abstract2
Introduction3
Literature Review3
Comparison of Social Networking Websites5
Benefits of using social network websites for business6
How to Use Social Networking Websites for Business8
Problems Associated with Social Networking Websites10
Conclusion10
References11

Abstract
A social networking website is a social structure build-up of individuals or organizations called “nodes”, which are connected by one or more specific types of mutuality, such as friendship, common interest, financial exchange, dislike relationships of beliefs, knowledge, prestige and information. This paper focuses on social networking websites and their impact on business. It aims to identify opportunities and ways to be effective as promoters of businesses to Internet users all over the world, 24 hours and 7 days, creating unlimited possibilities for advertising potential. This paper reviews the best social networking websites currently used as well as examples of ways in which business can use these types of websites to expand their target markets. This article also gives insight about the threats and challenges associated with social networking websites, as well as things for businesses to watch out for if they determine to use these types of websites. Social networking websites will continue to shape the ways in which businesses collaborate and communicate, both inside and outside of enterprise.

Introduction
A social networking website consists of a social structure build-up of individuals or organizations called “nodes”, connected by one or more specific types of mutuality, such as friendship, common interest, financial exchange, dislike relationships of beliefs, knowledge, prestige and information (McLaughlin, 2012). This paper focuses on social networking websites and their impact on business. It aims to identify opportunities and ways to be effective as promoters of businesses to internet users. Social media are a platform for business visibility. Keywords create a marketing buzz. The most relevant social networking websites currently used are reviewed first and ways in which businesses can use these types of websites to expand their target markets considered next. Some of the threats and challenges associated with social networking websites as well as red flags for businesses to watch out are then discussed. Literature Review

- What is Social Networking Website?
A social networking website is an online service or website filled with millions of individuals who are seeking to meet other people, to gather and share first-hand information and their experiences about golfing, gardening, cooking, developing friendships or professional alliances, seeking employment, marketing such as advertising, get customer’s feedbacks and even groups sharing information. It is an online service, website or platform that focuses on building and reflecting of social networks or social relations among people, who, for example, share interests and/or activities. Social Network Services are also increasingly attracting the attention of academic and industry researchers intrigued by their affordances and reach. - Facebook

Facebook was founded by Mark Zuckerberg, while he was a student at Harvard in 2004 and originally called thefacebook and that domain was registered by someone else back in 1997. The general concept was to digitize the legendary freshman-year “Facebook,” and allow students not only to gawk at one another’s photos but also to flirt, network, interact. Eventually, the web site moved beyond college to everyone and nearly 1 billion people have a Facebook profile. Facebook users can create a profile page that shows their friends and networks information about them-selves. The choice to include a profile in a network means that everyone within that network can view the profile. The profile...
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