Social Media 's Impact On Business Essays

1650 Words Aug 25th, 2015 7 Pages
Social media’s growth in society has changed the way people interact, collaborate and create opportunities for themselves and businesses. The growth of the platform has created more opportunities for business to create stronger competitive advantage in the market of digial advertising and promotions (Koohang, Nord, & Paliszkiewicz, 2014). This Literature review will focus on three key topics that are; the positive and negative impact of social media on business and the competitive advantages and opportunities the platform creates for businesses. From the information gained from the literature review we could conclude that mojority of the research conducted on social media is based on the positive factors and only minority of the reasearch conducted are on negative consequences. The negative consequences linked with social media which is an uprising issues has not be publised as much as the positive impacts and opportunities.

Social media has many positive effects on businesses; it becomes a platform for businesses to promote the business, its products and services to a broader audience. Social media role on businesses has a diverse movement as it is used to monitor brand perception and rising market trends and other factors that can create opportunities for the business. It is a platform that engages with audiences with faster frequency and impact.

Social media has slowly being adapted into marketing strategies and are showing proficient results which outlines it…

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