Social Media's Impact on Best Buy's SWOT Analysis

Social Media Global Trend Effect On Best Buy
We live in the world where everyone must have instant gratification instead. Because people want answers now and not later, they turn to social media for the latest updates such as the news, music, celebrities, and employment opportunities to name a few. Global trends, for example, social media, presence in organizations can be both a threat or an opportunity for workforce growth, business expansion, and customer and vendor relationships. Therefore, Best Buy’s human resources (HR) has to make adaptations to their annual operating plan to address possible threats or opportunities of social media in their strengths, weaknesses, opportunities, and threats (SWOT) analysis.
Social Media addresses both

Social media plays many different roles within how it affects a firm’s knowledgeable workforce, job creation, applicants’ active employment searches, triumph deals that improve a company’s reputation and market position, and employer’s competitive benefits and wages (refer to the Appendix). Therefore, Best Buy’s HR must consider social media either as an opportunity or threat after assessing this global trend impact on enterprises.
Social Media Opportunities
As the economy is recovering from a recent recession, job seekers are taking up to search for employment; many businesses are utilizing social media to target outside talent to employ (Pay Attention, 2008). With emerging markets, companies are transitioning in these markets once they seal the deal, social media aids in boosting firms’ image and status (Pay Attention, 2008). When businesses experience a heightened return on investment, they use different forms of social media to document their revenue and how employees receive benefits from the company’s good fortune (Anson, 2012).
Social Media

With this information in mind, Best Buy will need an HR strategy and action steps to address the role of social media within the corporation.
Best Buy’s Human Resources Strategies for Social Media Human resources will wield social media as an opportunity to scout for new talent, display to the marketplace they are an employer of choice, and to connect with employees, vendors, stakeholders, and customers to answer questions and give feedback on performance, products, and service.
• The human resources department and the information technology (IT) department will collaborate to develop a social media page with success story videos of current employees for job seekers to view and get a feel for the Best Buy culture (Anson, 2012).
• Both HR and IT will create live interactive pages for applicants to test run available positions, take feedback surveys about those openings, and live chats with HR personnel about the company as a whole (Anson,