Social Media Business Case Study

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Due to the fast food era and the situation that internet has become part of human social life in recently years, social media business in global is riding the crest of a wave. Social media is a group of applications based on Internet. These applications are based on the ideological and technological foundation of Web 2.0, which allows people to create and exchange the original content written by the users themselves (Kaplan and Haenlein 2010). However, this business is facing the coexistence of opportunities and challenges and having a profound understanding of the challenges can help business find the solution of it. This essay is aimed analyse the challenges that social media business is faced with nowadays, such as privacy issues, new competitors and revenue streams. In addition, this essay will try to provide the solution of the challenges and some advice to social media business companies. Privacy and security problems have always been affecting the social media business. All of the social networks are tracking all online behaviours people made on their …show more content…

Although these challenges are affecting the business, it seems that all the challenges have been given solutions at last. The main challenges of a social media business are privacy issues, new competitors and revenue streams. The possible solutions of these challenges have been indicated below. First of all, the security system should be improved to avoid potential criminals and ensure the safety of user data. Then, companies should change strategies to gain more advantages in the competition against new competitors so as to have advantages for the future development. Last but not least, the solution to revenue streams is that the company should find another profit point and enter into new global markets. Social media business will be increasingly important in the future and all the problems will disappear by that

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