Social Media Impact on Business Development, Organizational Performance and B2B Relationships
Krishnan Nair, Gopakumar
Cardiff Metropolitan University
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The influence of social media in the life day to day life of people has impacted the way they conduct business these days. This phenomenon has influenced the corporate and business world as well and today there is an increase in the number of organizations joining the social media platforms. Organizations across the world are spending considerable amount of their time, energy and money to build and maintain their social media public pages to improve their standing in the global business space. Social media being a relatively new occurrence to the global business world hence the studies conducted in this area is limited and a majority of them are based on the individual perspectives. This study investigates the positive impact of social media on business development, organizational performance and its influence on fostering better B2B relationships. Using both the quantitative and qualitative means, this study strives to find out how social media can benefit organization in optimizing their overall performance through the appropriate usage of this internet phenomenon. However, this study focuses only on the positive aspects of social media and it’s in depth reach with the customers, suppliers, manufacturers and competitors. This research investigates how social media has been beneficial to the case study organization Arki Group which is established in the United Arab Emirates. Through the questionnaires and semi structured interviews conducted with various respondents in the organization we find out how social media has been utilized for fostering better business relationships with customers, suppliers, manufacturers and other organizations while crafting better B2B relationships. The results obtained through this study show that social media has been able to positively impact the organizations in improving their visibility, enhanced customer service, better relationships within the industry and have overall improved the organizations communication with the international business world.
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