Risks and Benefits of Social Media on a Multinational Corporation

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BUS378: Knowledge and Organisational Learning

Risks and benefits of social media on a Multinational Corporation

Student Name:
Tan Pei Si Jalyn
Student Number:
31726715

Date Due:
9th July 2012

Lecturer Name:
Mr Gerard Chan
Word Count:
2366

Table of Contents
INTRODUCTION3
SOCIAL MEDIA3
USAGE OF SOCIAL MEDIA TOOLS4
CREATE KNOWLEDGE SHARING4
BUILD SOCIAL CAPITAL5
SUPPORT INNOVATIONS5
AID PROBLEM SOLVING5
APPLYING THE THEORY6
RECOMMENDATIONS7
RISK AND BENEFITS8
CONCLUSION9
BIBLIOGRAPHY10


Introduction
The world of work revolves not only around getting the job done but also about the social interaction between people to optimize and innovate the business to a different dimension. In this report, we will take a look at social media as a whole and how Company x a multinational corporation utilizes social media to improve communications within the company. Recommendations will be made to improve the current process to ensure that the knowledge creation process is beneficial to the everyday running of the business. Social Media

Social media is defined as "a group of Internet-based applications that build on the ideological and technological foundations of Web 2.0, and that allow the creation and exchange of user-generated content." (Kaplan and Haenlein 2010) There are two key elements to social media namely media research and social processes. Media richness theory is highly based on the assumption that the goal of any communications is the resolution of ambiguity and the reduction of uncertainty (Daft and Lengel 1986). In short, a good communication is one that provides the most information in the shortest time frame.

Types of social media tools
(Kaplan and Haenlein 2010)
The different social media tools are presented in table 1 and are graded based on their level on “self presentation” and “media richness”. To identify the right tool for an organization, it is necessary to understand the objective of implementing the initiative. Social media can be a tool to enhance on the communication of the company be it the interactions between or within different departments. Usage of social media tools

Company X is a business process outsourcing company with three different offices in Singapore. With the human resource department as a shared service between all offices, it is challenging to keep up with all the demands from different locations. Social media tools can be used to establish a bridge between the different offices. The learning and development team in sharing the course notes and information can use collaborative projects as a tool. Sharing of the course note is important as it helps participants to have a source to refresh the knowledge or new starters to learn about past training. Trainer can also create self learn topics for employee to read up on a part of their self-improvements initiative. Collaborative project can also functions as a space for employees to find useful company information such as company’s code of conduct, handbook and useful links and numbers. A document control center can be created with this space to hold all company policies, forms and manual. This center serves as a self-service space to allow access to all offices on the documents required for daily work. Blogs (internal) can also serve as an effective engagement space for employees. Focus of the blog could be on company updates such as internal newsletter, corporate related articles or announcements such as new project pitched in by the company. Comments should also be enabled and moderated to allow the social interaction between employees. For example welcoming a new colleague. A post can be made to announce the new starter on the team and comments can be made to welcome them onboard. With also a feedback section, any staff member can direct recommendations and feedback to the human resource department regardless of issue and can also remain anonymous. The two...
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