Social Media Essay

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SOCIAL MEDIA A BOON OR BANE FOR GLOBAL BUSINESS Presented by Amisha Shetty Jankidevi Bajaj Institute of Management Studies SNDT WOMENS UNIVERSITY MUMBAI Contents EXECUTIVE SUMMARY 3 DISSERTATION 4 BIBLIOGRAPHY 16 EXECUTIVE SUMMARY WHAT IS SOCIAL MEDIA IN GENERAL ????? Social media refers to interaction among people in which they create, share, and/or exchange information and ideas in virtual communities and networks. Andreas Kaplan and Michael Haenlein define social media as "a group of Internet-based applications that build on the ideological and technological foundations of Web 2.0, and that allow the creation and exchange of user-generated content."[Annexure I] Rean John Uehara ( defines social media as a combination of human interaction through web applications where people produce their own content, mold their own experience, and define their online presence. WHAT IS SOCIAL MEDIA TO THE COMMON MAN ????? The very first thing that comes in the mind of the common man when they talk of Social Media is Facebook , then maybe Twitter, Orkut, Blogger, Twitter, Wordpress, Pinterest, Google+, Tumblr, MySpace and Wikia in either order and the latest to join the wagon is Linkedin. The common man may or may not look beyond these words when spoken about THE SOCIAL MEDIA. Is the social media really this or does it go beyond just words ??? WHAT IS SOCIAL MEDIA TO BUSINESS ????? The fact that technology keeps changing or rather upgrading almost every day is known. In the world of business and commerce, the bubble burst and the future online seemed bleak as the millennium turned. Seventy million computers were connected to the Internet. DISSERTATION Boss : The company has decided to launch a new consumer product targeting the youth population. A lot has already been spent on the R&D and

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