The impact of social networking on our daily lives - Research Paper Example

The development of formal and informal contacts takes place in the social networks, Facebook, twitter, LinkedIn and Google plus. Statistics show that over 1.2 billion people use Facebook as a social network (Hunter 27). Despite the fact that it can be termed by many as the greatest development of the twenty-first century, it is still a high predator against social values, social structures and moral development. This paper aims at discussing the impacts of social networking (both positive and negatives) and arriving at a point of concluding whether social networking should acclaim praise or reprimands.

Discussion Most people believe firmly that social networks breed better than evil in society. There are major positive impacts as a result of electronic information exchange. To start with is the promotion and facilitation of competition in trade. This can be achieved through harmonization of business practices, standardization of information, convenience in reaching out to sister companies and the market. Social networks have enabled consumers to maximize their freedom of choice. Organizations can, therefore, win consumers by producing only the best and also having an up to date integrated information system (Hunter 30).

Such like competition enhance economic growth and development. To add further on the impact of social networking to the global economy, millions of people today get employed by social institutions. These employments can be appreciated for alleviating poverty, higher standards of living and the decrease of the dependency ratio. The management of huge organizations can enjoy reduced costs of managing this can mainly be through, ease in channeling of information between and/or among branches, eased supervision, and coordination of decision making in different branches (Peacock 42).

The social network has also been a major tool used by investors who are willing to establish new companies. The major role played by the networking is the identification of new brand name. This can be achieved by the sharing of ideas in the networking. The companies can also use the network to advertise their products. This is easily achievable because many people use the social network therefore, the company can reach its market in a more convenient way. The network has also enabled organizations to spy on their competitors.

This tool has led to the success of firms as they have defined level of competition and are able to perform within the standards of competitors (Hunter 32). Social networking has also developed a platform where businesses can do their research on. Organizations are able to view the comments of their customers towards the products they are producing. This is caused by the fact that people are able to express themselves and also share their own ideas (Gattike 14). The network gives the firms a platform where they can interact with its customers; they are able to ask their customers' questions.

This gives them a chance to know the quality of their products and respond accordingly. They are also able to understand the amount of utility a consumer derives from their products (Ryan 59). Social networking also enables people who may be seeking a job. Many sites in the social network contain many job opportunities which are advertised by different