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Question: Discuss about the Determine users in internet social network. Answer: Introduction Modern organisations use technology to improve the effectiveness of their functions; companies use digital technology for practices such as marketing, recruitment, manufacturing, advertising, research, and many others. The popularity of social networks implementation in business is growing as well; corporations use social networks to increase their contacts, hire employees, conduct research, market their product and services and performing other business activities. Many large corporations have successfully used social networks to gain a competitive advantage and expand their operations in multiple countries such as Starbucks, Pepsi, Dominos, Adidas, and Nike. Along with the popularity and use of social network in the business, the risks of cyber-attacks are increasing as well. Modern firms are facing challenges due to growth in cyber crimes such as hacking, online harassment, cyberbullying, Hacktivism and many others. This report will evaluate various disadvantages and advantage tha t modern companies have for using social networks in business. Further, the report will understand the shortcoming and merits of social networks from the perspective of modern firms. Project Objective The primary objective is to perform a literature review of various disadvantages and advantages modern companies have due to use of social networks in business. The secondary objective of the report is to understand the role and impact of social networks in business from the example of various corporations and understand how they utilise them to gain a competitive advantage. Project Scope The report will analyse the examples of companies which has failed or succeed in using social networks for performing various business practices. The report will include various theories and expectations given by market experts on the topic to understand the issues and benefits of using social networks in business. Literature Review According to Trusov, Bodapati and Bucklin (2010), social networks are defined as online or internet based platforms that provide various services to people that assist in connecting and communicating them with their family, friends, and colleagues throughout the world. The use of social networks has increased due to the popularity of social media sites and smartphones. Williams (2017) contributed a story on Mashable which provide that there are more than 3 billion active social media users worldwide that are around 40 percent of the worlds population (Figure 2). Facebook is the most used social media sites in the world with more than 2 billion active monthly users (Figure 1). Kharpal (2017) provided that smartphone industry is booming with a market worth of $355 billion, it is expected that by 2020 more than 6 billion smartphones will be circulated in the market. As per Lin and Ye (2009), the popularity of smartphones and social media sites encourage modern companies to use social networks in business since it provides numerous opportunities. The corporations use social networks for collecting customers feedback, market their products, conduct research, interact with consumers and many others; it provides a global reach to firms that assist in expanding their global reputation. In past decade, the role of social networks has increased between companies that are competing on online platforms to gain competitive advantages. In previous years, the rate of growth in internet-based corporations has increased as well with the popularity of services such as mobile application, online shopping, and internet banking. Cheung, Chiu and Lee (2011) provided that people are using social networks to not just connect with each other; they are using them to also perform various tasks such as shopping, banking activities, entertainment, and many others. Many of the world leading companies such as Amazon, Facebook, Uber, and PayPal are completely online based firms which provide their services through a smartphone application. Primarily, companies take the most advantage of social networks through marketing; they use online platforms to advertise their products to a wider audience. According to Gleeson (2012), people tend to trust on online advertisements more than television advertisements (Figure 4). The rate of using social media marketing is also cheaper than compared to other traditional sources. It also provides a platform for companies which make it easier for them to connect and interact with their audience. Weber (2009) mentioned that it is considerably easier for customers to appraise or give suggestion to companies in which they are interested in, and similarly, the firms can conduct surveys to collect market insights. Social networks have erased the boundaries between countries which makes it easier for corporations to ex pand their operations at a global level. Advantages In recent years, the role and influence of social networks are continuously increasing between companies due to its numerous benefits. The corporations are able to gain competitive advantage and sustain their future growth by effectively using social networks in business operations. Following are examples of advantages received by firms for using the social network in business. Marketing For many organisations and entrepreneurs, use of social networks is the next big thing, and they take full advantage of this opportunity, and many companies also considered it a buzzword which did not have any practical advantage for business. Many studies have provided that the numbers of companies which use social networks for marketing are increasing rapidly throughout the world. Kusinitz (2017) provided that more than 92 percent of the marketers in 2014 stated that use of social networks in marketing was beneficial for their firm. Bennett (2014) mentioned that 88 percent of US-based corporations use social media for marketing purposes which means every 9 out of 10 enterprise use social networks for marketing. Abeza, OReilly and Reid (2013) provided that the main benefit of using social networks for marketing is that it provides a wider audience which assists in increasing companys brand recognition throughout the world. Social media sites provide a global platform to companies, s o they can easily connect with their global audience which increases their brand loyalty. The research conducted by Bell (2013) provided that corporations which engage in social media marketing enjoy a high level of brand loyalty. It also provides more opportunities to companies since social networking allows companies to interact with old and new customers that provide their opinion and preferences about companys products, and firm can use them to improve their products. According to Tuten and Solomon (2017), social media sites also increase inbound traffic of a company because, without social networking, enterprises are restricted to their usual customers. Using social networks for marketing provide a cost-effective option to companies because as compared to traditional methods, the rate of social media promotions is less. Most of the social media sites allow users to create free accounts and after building a large following, companies can post advertisements on their page without paying extra for marketing. For example, Starbucks uses social media sites to post beautif ul pictures of their products which increase their social media following; this way company is promoting their products without paying extra for advertisements. Viral Trends In recent years, every company wants to go viral on social media websites since it provides a substantial amount of attention to the corporation. Scott (2015) stated that a firms go viral when it started generating a great deal of attention from social media users in the form of likes, comments, share, and parodies. Once a trend goes viral, people started buying thing relates to such post which creates new business opportunities for companies. For example, in 2017, fidget spinners become a viral treat on social media sites and the number of global fidget spinners sale increases rapidly. In 2017, the companies earned more than $500 million from fidget spinners by selling around 200 million spinners by May (Libassi, 2017). Therefore, companies create new trends in order to make them viral because it creates new business opportunities for them. Communication Using social networks in business assist in improving the communication between different departments which resulted in increasing companys performance. The corporations use social networks to communicate with customers, employees, suppliers, and others. According to Coulter and Roggeveen (2012), modern firms can communicate with their global audience, and they can collect their opinions without investing any resources in market research. Effective engagement with customers leads to building a strong brand image of a company, for example, Starbucks engage with its social media followers that assist in increasing the reputation of the firm. It is also considerably easier for employees to share ideas and quarries with each other through social network platforms. Many companies use mobile applications such as Slack, HipChat, Wrike, Skype, Google Hangouts, and many others to connect with each other instantly. These applications provide facilities such as group chat, team collaboration, and file sharing which increasing productivity of workers. As per Veil, Buehner and Palenchar (2011), social networks also benefit multinational companies since they can easily communicate and direct their international branches without any delay or lag. Effective and instant communication in business assists in establishing a strong organisational culture with the efficient flow of communication. Similar, corporation uses social networks to communicate with business contacts; firms can build their social networking by engaging with new enterprises. Business Expansion As per Safko (2010), social networking allows the company to increase its brand following which results in creating new business opportunities; a corporation can increase its sales by expanding its social media image. People use their smartphones to search for new places or products; the customers can find new firms and brand through social media post. Most of the users follow the companies or brands which are followed by their family, friends or colleagues. Kaplan and Haenlein (2010) provided that online markets provide new substantial opportunities for corporations, for example, Amazon gains a considerable success through online shopping, and it is worlds sixth most valuable firm. Many companies such as Facebook, Instagram, and Twitter are completely based on social media platforms, and they have gained success in the market. Market Research Social networking increases companys interaction with customers, and they can use this opportunity gain market insights. According to Rowlands et al. (2011), the corporations can conduct various polls and survey regarding their products and services directly through social media sites, and customers from all around the world can easily submit their opinions. Social media and online websites provide a place for customers to share their feedbacks and quarries with the corporation, and the enterprises can use such information to improve their products. Organisations can use platforms such as Facebook and Twitter to post their poll or survey regarding their product, and interested customers can provide their opinion. The corporation can implement such information to improve their quality and usability of their products and services. Recruitment Henderson and Bowley (2010) provided that modern corporations use social networks to perform the activities relating to recruitment; companies are able to attract and conduct interviews with candidates throughout the world. Use of social networks benefit corporations by hiring qualified employees, and it improves the efficiency of recruitment operations. The potential candidates can give interview through applications such as Skype or Google Hangouts which saves time and resources of a firm. Disadvantages In past decade, the role of social networks has increased between corporations, and they use them to perform various business operations. The risks face by companies is also increasing along with the popularity of social networks. The firms have to implement various security requirements to ensure that they are secured against various risks relating to social networks. Following are various drawbacks of using social networks in business. Cyber Attacks One of the primary risks of using social networks in business is the vulnerability of corporations against cyber-attack. According to Goolsby, Shanley and Lovell (2013), cybercriminals attack both large and small organisation to collect their sensitive data and gain an unfair advantage. The popularity of social media has made it the potential target for hackers to attack. Many corporations have suffered through online cyber-attacks such as HBO, Sony, DYM, Bank of America, Yahoo, and Ashley Madison; cybercriminals breached and collected the data of these companies to blackmail or leaked them online which destroys corporation financial and social position. The attack on Yahoo is considered as one of the biggest data breached scandal, and more than 3 billion people were affected by the attack. The hack of JP Morgans database breached the data of 83 million people and affected the company financially. These examples show the risk of using social networks and their negative effect on busi ness. Insider Threats IBM conducted research on cyber-attacks in 2016 which provided that more than 60 percent of the attacks are caused due to insider threats (IBM, 2016) (Figure 3). Employees of a company unintentionally or intentionally give access to hackers which resulted in a data breach in a corporation. For example, ex-employee of Morgan Stanley involved in a cyber-attack which resulted in breach of companys data. Hidden Expenses As compared to traditional methods, social networks are considerably cheaper options for services such as communication, marketing, and research. But, the numbers of users which use social media sites are considerably high, and companies have to invest heavily to gain attention on the internet. As per Johansmeyer (2011), there are several costs in using social networks, for example, the cost of showing corporations website in Google results require firm to constantly pay an annual fee even when no one searches it on the web. Many large social media sites such as Facebook and Instagram charge high prices to show companys advertisement to a global audience. Organisations have to create a separate budget for effectively using social networks in business. Online Harassment Internet provides an open platform to everyone, and people have the right to post anything. Many people take advantage and misuse online platform to bully or abuse other people. As per Sengupta and Chaudhuri (2011), the rate of cyberbullying and online harassment is increasing rapidly. The use of social networks is business lead to similar problems as well; employees may misuse the social networks to abuse, harass, or bully other members which lead to creating a negative organisational environment. Clear Strategy The corporations are requiring establishing a clear strategy to utilise the potential of social networks effectively. A large number of firms use social media strategy, but only a few succeed because they lack a clear strategy. According to Keitzmann et al. (2011), the company has to incorporate various department and functions into their strategy of social networks to ensure that each part can effectively use them to improve their productivity. Lack of clear strategy or mistakes can lead to decreasing companys reputation. For example, Coca-Cola posted a picture of Russias map omitting Kaliningrad which offends many Russians, and they started protesting against the company by pouring the drink in toilets. Time Intensive Using social media sites require the company to monitor its activities continuously and instantly interact with customers. International companies have customers throughout the world, and they can post their quarries any time of the day or night which require firm to increase its employees. As per Boldin (2016), the large corporations can afford to hire employees to work in night shifts, but small and medium enterprises did have resources to invest in social media strategies. Many people also consider social media sites as platforms which waste people time, and they did not trust companies which use social media sites for advertisements. Conclusion In conclusion, the number of companies which uses social networks in business operations is increasing rapidly with the popularity of social media sites, smartphones, and internet. The corporations use social networks for performing various business functions such as marketing, engaging with customers, conducting market research, communicating and many others. Organisation can receive various advantages by using social networks in business such as wider audience, improvement in communication, reducing in cost, conducting market research and many others. There are several disadvantages of using social networks as well such as vulnerability to cyber-attacks, online harassment, hidden expenses, insider threats and many others. The corporations should assess their organisational environment to ensure that using social networks strategy are beneficial for them, and they should implement a clear strategy to avoid any issues which assist in sustaining their future growth. References Abeza, G., OReilly, N. and Reid, I., 2013. Relationship marketing and social media in sport.International Journal of Sport Communication,6(2), pp.120-142. Bell, T., 2013. 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