Social Media

Pros and Cons

Growing businessGlobalization

The term Globalization is a term used to describe how trade and technology have made the world into a more connected and interdependent place. Globalization also caputers in its scope the economic and social changes that have come about as a result. Through social media globalization has become more common as we all are socially connected through social media from any corner of the world. It arise global marketing .

The arise of social media provides the platform for e commerce to the business people . It gave people many options regarding the purchase . This trend results in the development of various e commerce websites ( Brown and Spencer 2009/2010; Leonard and Wilkinson , 2004)

1.     Positive effects-: Social Media as a business-  Nowadays businesses are gaining recognizition because of the social media. The trading is going very well because of popularity of social media and it has become has the trading platform. People started their businesses on social apps like Facebook such as marketplace. Currently one out of four retailers are using facebook as their promotions . They have separate websites om the facebook as they use “Find us on Facebook”notification on their web page. This is the evidence that many e commerce entities are involving in the social commerce

Additionally the rapid use of social media has resulted in companies to get to know more the consumer choices ( mang et al. 2022 rajkovic 2021)

Cross Culture – Just a globalization facilitates social media, It also creates harmony . People are more dependant on each other because of international and national trade and most specially because of social  media (Kottak 2017;Griffth 2020).The world has become a global village

2.     Recommendation of Small businesses- For the startup planning social media is best platfrom to start. Nowadays, this has become very common. People can expand their business by promoting to on social media platforms such as Instagram , Facebook and so on.

Negative Impacts-;

1.     Legal Issues-  Legal challenge also arise from the use of materials that are shared online through the social sites.  People use fake accounts to deceive people on the name of business. Sometimes they do not deliver the product , or sometimes they use damaged products. The virtual nature of social media gives a false sense of security, which is not the reality .This trend is becoming really common but laws related to this are also developing day by day.

2.     Influence- No doubt Business is very easy because of social media but people are becoming more influenced from the successful people and try to copy them without looking at the risk and downfalls of this step, People need to understand that they need a proper plan and budget to start the business on social media as well .

There are always two sides of every aspect. Even though we are more connected from place to place and businesses has become very easy and it is quite easy to get recommendation but there are lot of frauds relates to this which brings privacy as well as financial risk.