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Social media provides an opportunity for businesses to use word of mouth in marketing their product keeping them in touch with their customers. On the hand the impact of cloud computing is transformative in nature and is creating new business opportunities as companies are finding new ways of increasing their revenues. Cloud computing is breaking down barriers in the supply chain and coming up with more innovative ways of linking clients and suppliers. It is also facilitates cost reduction in information technology and other departments within the business. Its impact is evident in the areas of human resource and information and communication technology