The Use of Social Media and the Internet to Provide Transparency in Services - Assignment Example

The Use of Social Media and the Internet to provide transparency in services Table of Contents The Use of Social Media and the Internet to provide transparency in services 1 Table of Contents 1 Subject: The use of social media and the internet to provide transparency in services 2 Heading 2 Opening 2 Body 2 Comparison between Policy Alternatives: 6 Conclusion 6 Closing 7 References 8 Subject: The use of social media and the internet to provide transparency in services Heading Use of social media and the internet to provide transparency in service sector of UK. Opening Social media is one of most emerging techniques that are used by the global clients in communicating and interacting with other peoples. Recently it has been observed that peoples are using internet in the social media purpose. Moreover, social media tools and technology is highly adopted by people and developed the information democracy (Feuls, Fieseler & Suphan, 2014). Global firms are having different types stakeholders like customers, employees, government, investors and trade unions. The stakeholders are demanding effective information from the management in order to maintain the feasibility of their investment. Thus, firms are required to maintain transparency in providing information through online portals like social media. Facebook, Twitter and other social sites are gaining popularity among global stakeholders. Such portals are used in accessing company data, financial figures and communicating with the management (Weinberg, 2009). Body Contemporary businesses are facing various challenges like financial crisis and changing customer demands. Major firms are raising funds from equity market of different countries so firms are required to select the social media channels in terms of sharing their key information (DeJong, 2014). Stakeholders are seeking for virtual access financial and administrative content before investing in any organization. Information needs are increasing in the service sectors. In such segment, customers are requiring information on various factors like service features, value added features and pricing of service seasons. Such information will be helping customers in making the purchase decisions (Gordon & Armstrong, 2011). Figure 1: Age group of the social media users (Source: Feuls, Fieseler & Suphan, 2014, pp. 562) From the above graph it has been observed that the peoples of 18-24 years age are using the social media majorly. However, peoples from all age groups are using social media. They are seeking for information on the service quality or price range. In the financial service segment, peoples are concerned about the risk of investment. Financial crisis reduced the potential of return and customers are seeking for actual and unbiased reviews on various investment funds. In case of hospitality and restaurant service customers are seeking for information regarding the physical evidence, service quality and charges (Gunawong, 2014). Social media is the best source of obtaining non-manipulated information regarding customer experience. Before the social media era peoples were able to access only company websites or empirical journal articles (Purdy, 2011). However, online or internet is having certain risk involved like the hacking. Hackers are stealing the confidential organizational data and manipulating those unfairly. Such threats are limiting feasibility and transparency of the organizational practices (Leung, 2014). In order to increase the transparency in the services through the social media firms are using different techniques like the technology, communication and identification. Different financial, healthcare, hospitality and other service providing firms are adopting such strategies in terms of increasing the transparency of their service (Seol, 2014). Technology: In the technological part firms are diversifying their channels. Different type of the social media tools, smart phone applications, lucrative and user friendly formats of content sharing are adopted by firms in meeting global stakeholders. The process of accessing required information is very and people can access such portals anytime and anywhere (Weinberg, 2009). Communication: Firstly firms are increasing interaction with their stakeholders and they are promoting honesty in providing information. Marketing communication must be providing feasible information. Organizational loopholes must remain uncovered and management needs to admit failure. Moreover, social media pages are offering the clients to record their experience and report for the unfair practices and service gaps (Taipale, 2014). Therefore, management must maintain open communication ethics that empower personal comment right. Management must not delete any negative report of the users or stakeholders in fear of putting negative impacts on the other stakeholders. A two way communication hub must be developed in order to provide the customers with the required information for relevant buying decision making (Yang, Weng & Hsiao, 2014). Identity: In such strategy firms are required to communicate their identity like operational practices, features of the products or service, and the niche market. Firms have to create proper perception among customers. On the other hand, perception gap will be reducing customer satisfaction as they fails to receive perceived quality or products features (Leung, 2014). Identity development also requires sharing of business values with the stakeholders. Such policy increases understanding of stakeholders regarding the organizational ethics and corporate governance. After sharing the values the organizations are required to share their operational policies in order to increase transparency. Stakeholders will feel safe if they are able to contrast organizational structure, business models and service providing or operational process. This process will increase the business relationship. Moreover, firms are responsible to sustain their society and environment so CSR activities must be outlined in the social sites (Purdy, 2011). Figure 2: Social media info graphic (Source: Yang, Weng & Hsiao, 2014, pp.117) Social FAQ publishing is another strategy that firms are required to maintain in their online or social media portals. Mainly open FAQs are answering all the quarries of the customers. In contemporary market conditions firms are citing different actual case studies in their social media page (DeJong, 2014). Social media can increase the transparency among the organizational service provisions but it has some problems that are faced in during the implementation of social medial or online strategies. Privacy Concerns: social media or internet based portals are facing risk of privacy. Customers are requiring more security, in order to access company data they have to provide identification which can steal by hackers. Such personal data can be used in malpractices (Feuls, Fieseler & Suphan, 2014). Lack of Training in Shared Technologies: firms are using shared online service, clouds and E-commerce portals so employees required developing their knowledge. Inefficiency of employees will be reducing the success of implementing social portfolios. Limits on Client Information: social sites have limits the tracking of the users of the social sites. Thus, management can use the customer information and utilize those in developing operational strategies (Gordon & Armstrong, 2011). Social media is not only used in the purpose of providing the information regarding operations, service and products features, quality and price. Organizations are also using social media portals and online portals in cross-selling products and E-commerce operations. Firms are also using various clouds that are enabling global stakeholders to access relevant data. This will mitigate the limitation of the geographic segmentation. Stakeholders will be able to accesses financial and operational data with the help of login id and password of the particular cloud (Gunawong, 2014). Comparison between Policy Alternatives: In case of the first alternative customers will be able to assess vast range of products. Firms are able to influence its customers towards their subordinate products. Gradually profitability will increase and customers will be able to contrast large range of products. E-commerce portals are helping the firms and customers to make the transaction process with more ease. Geographical barriers and risk issues are reduced over here (Leung, 2014). On the other hand, cloud system increases trustworthiness among investors. Existing and potential shareholders can access financial and operational data simply. The first alternative deals with the customers buying behaviors and second one concern for investment decision of the customers. Conclusion Trust of the customers the key of commercial relationships and such factors help firms in achieving business growth and sustainability. Social media is mostly used factor by the firms in order to develop most interactive relationship. Transparency of the social or online channels can be increased with the help of feasible interactive relationship with the clients. Closing Information or contains of social media must be designed in a customer friendly manner. Experiences and ideas of customers will be recorded with help of separate segment. Moreover, service sector firms can use the comment of stakeholder’s customers to develop their service. Maximum service provider firms are using the social media like Twitter, Facebook, YouTube and LinkedIn to promote their service related information transparently. References DeJong, S. (2014). Problematic Internet Use: A Case of Social Media Addiction. APS, 4(2), 112-115. Feuls, M., Fieseler, C., & Suphan, A. (2014). A social net? Internet and social media use during unemployment. Work, Employment & Society, 28(4), 551-570. Gordon, D., & Armstrong, J. (2011). Controversies in media ethics. New York: Routledge. Gunawong, P. (2014). Open Government and Social Media: A Focus on Transparency. Social Science Computer Review, 17(5), 125-137. Leung, L. (2014). Predicting Internet risks: a longitudinal panel study of gratifications-sought, Internet addiction symptoms, and social media use among children and adolescents. Health Psychology And Behavioral Medicine, 2(1), 424-439. Purdy, C. (2011). Using the Internet and social media to promote condom use in Turkey. Reproductive Health Matters, 19(37), 157-165. Seol, J. (2014). An Exploratory Study on Social Media Users' Ambivalent Attitudes. Journal Of Internet Computing And Services, 15(2), 87-94. Taipale, S. (2014). Do the mobile-rich get richer? Internet use, travelling and social differentiations in Finland. New Media & Society, 11(5), 133-147. Weinberg, T. (2009). The new community rules. Sebastopol, CA: O'Reilly. Yang, M., Weng, S., & Hsiao, P. (2014). Measuring blog service innovation in social media services. Internet Research, 24(1), 110-128. Read More