Transcript Unit 43 - LO2

UNDERSTANDING SOCIAL MEDIA
FOR BUSINESS
T/505/5399
LEVEL 3
LO2 - Know the social media for
business environment
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AIM AND PURPOSE OF THE UNIT
Social media for business is a widely expanding
opportunity for organisations to embrace social media
and apply the social technologies to their business to
improve and promote business value. From marketing
and sales to product and service innovation, social media
for business is changing the way people in business
connect and the way organisations compete.
The aim of the unit is to give learners the understanding
of what social media is, the scope and impact it has, how
it is evolving and the opportunities these platforms
provide to businesses when promoting themselves or
utilising consumer information. By reviewing business
practice the learners will be able to identify how to
improve service and customer delivery, raise awareness
of business and products/services and improve market
intelligence to develop a competitive advantage.
Scenario
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Assessment
Learning Outcome
(LO)
The learner will:
Pass
The assessment criteria
are the pass requirements
for this unit.
The learner can:
Merit
For merit the evidence must
show that, in addition to the
pass criteria, the learner is
able to:
Distinction
For distinction the
evidence must show that,
in addition to the pass
and merit criteria, the
learner is able to:
1 Understand the
concept of social
media
P1
Explain the
range of social
media services
M1
Explain
opportunities
provided by social
media to
individuals
D1
Evaluate risks to
individuals when
using social
media
2 Know social
media for the
business
environment
P2
Describe the
concept of social
media for
business
M2
Describe where
social media has
been successful in
promoting
businesses
D2
Compare and
contrast social
media and social
media for
business
3 Know benefits of
social media for
business to an
organisation
P3
Describe
benefits to an
organisation of
using social
media for
business
M3
Explain how social
media for
business could be
used to improve
business functions
D3
Propose success
criteria for an
identified
business when
introducing social
media for
business
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Assessment
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The tutor should encourage learners to consider a wider range of
users for the services and the organisations, and identify the
potential risks or problems that different users may experience,
as identified in the teaching content. It may be necessary to
prompt the learners with examples of risks publicised in the
media followed by more in depth research to fully appreciate
risks.
With a good understanding of social media and the audiences,
approaches to usage, purpose and risks learners should then be
directed to consider the use of social media for business and the
term ‘Social Business’. They should identify how the already
identified organisations and services are actually businesses and
it would be beneficial if the tutor presented high profile social
media examples to identify how these “social” services are
actually multimillion pound businesses globally. They should
consider how the income is generated, businesses developed by
extending their earlier research of preferred services and
organisations to incorporate this.
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Assessment
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For P2 learners must describe the concept of social media for
business. This could be in the form of a leaflet with descriptions
or a report to describe what social business is and how the
concept has evolved based on the rapid explosion of social media
services.
For merit assessment criterion M2 learners must describe where
social media has been successful in promoting businesses. This
could be in the form of a presentation with notes where the
learner identifies a range of businesses that have over a recent
number of years used social media to promote in their business
operation. Examples of the approaches and promotional activities
should be given.
For distinction criterion D2 learners must compare and contrast
social media and social business. This could be in the form of a
report or presentation where the learner identified the key focus
and concepts for both social media and social business.
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Assessment
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Organisations that have adopted the social business model will use social
media tools and social networking standards across functional areas within a
business for communicating and engaging with external audiences, including
customers, prospective customers, prospective employees, suppliers, and
partners.
Combining social networking etiquette such as being helpful, transparent
and authentic, with business engagement on LinkedIn, Twitter and Facebook
more fully involves employees in the organisation and increases customer
intimacy and trust.
Overview
Traditional business models, particularly in large organisations, have had as
one common characteristic, careful limitation of direct contact between those
within the organisation and those outside of it. Only certain specific
individuals like those in roles such as sales, customer service and consulting,
were designated as “customer-facing” personnel.
Organisations further limited outside access to internal employees through
filtering mechanisms such as publishing only a main switchboard number,
sometimes going through a receptionist or an interactive voice response
system or by using generic “sales@” or “info@” email addresses.
Scenario
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The death of this system was predicted back in 1999 when the Internet and social
media started to take hold as a viable business tool for communicating
information to clients. The Social Business Model involves self governance, the
ability for the customer to find their own way to the source of the information, to
become more interactive, more responsible.
 In implementing the social business model, organisations apply social networking
protocols and tools in a range of areas, potentially including:
 Marketing
 Customer Support
 Recruiting
 Crowdsourcing
 Internal employee collaboration
 Sales
 Product Development
 Supply Chain Operations
 Investor Relations
P2.1 – Task 1 - Define the terms Social Business and in terms of your school, define
what a Social Business Model would mean to the contact time with their customer
base.
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Assessment
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Businesses that fully adopt the social business model will exhibit four key
characteristics:
Connected – employees will be able to seamlessly engage one-on-one in realtime with other employees and individuals outside the business (customers,
prospects, partners, media, etc.) using a variety of communications methods
including text chat, voice, file sharing, email, and video chat.
Social – employees will follow social networking etiquette (being authentic, helpful
and transparent) in external interactions. The focus will be on answering
questions and providing information rather than overt sales or promotion.
Presence – these conversations may originate on the company’s website or
elsewhere online (e.g., publication websites, industry portals, or social networking
sites such as LinkedIn or Facebook).
Intelligent – businesses will use in-depth analytics to monitor connections, social
interactions and presence; measure corresponding business results; and
continually adjust and improve practices for increased effectiveness.
P2.2 – Task 2 - Define the characteristics of Social Business and in terms of your
school, define what a Social Business Model would mean in terms of training,
etiquette and analysis.
Training
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Etiquette
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Analysis
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Assessment
Investor Relations is a strategic management responsibility that includes
finance, communication, marketing to enable the most effective two-way
communication between a company and those who are invested in the
company, shareholders, parents, customers etc.
 Typically investor relations is a department or person reporting to the Chief
Financial Officer (CFO) or Treasurer who oversees most aspects of
shareholder meetings, press conferences, private meetings with investors,
investor relations sections of company websites, and company annual
reports. It also includes the transmission of information relating to corporate
social responsibility including social business and social media.
 The investor relations function must be aware of current and upcoming
issues that the business may face, particularly those that relate to laws and
business impact. In particular, it must be able to assess the various patterns
of stock-trading that a public company may experience.
 In terms of Social business then there is a lot of people involved in their
duties, a lot of communication, a lot of importance to etiquette and quality of
information.
P2.3 – Task 3 - Define the Social Business functions of Investor Relations the
risks in terms of communications and the Social Media Solutions companies use
to alleviate risks.
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Marketing is the process of communicating the value of a product or service to
customers, for the purpose of selling that product or service. Marketing can be
looked at as a Social Business function as a set of processes for creating,
delivering and communicating value to customers, and managing customer
relationships in ways that also benefit the business and its shareholders.
Marketing is the art of choosing target markets through market analysis and
market segmentation, as well as understanding consumer buying behaviour and
providing improved customer value.
 The four components of marketing are relationship marketing, internal marketing,
integrated marketing, and socially responsive marketing. The set of etiquettes
necessary for successful marketing includes, capturing marketing insights,
connecting with customers, building strong brands, delivering and
communicating value, creating long-term growth, and developing marketing
strategies and plans.
 In terms of Social business then there is a lot of people involved in marketing
within a public business, a lot of communication, a lot of importance to etiquette
and quality of information, to display quality, to SEO and SEM, to branding and
publicity. Click here for more information.
P2.4 – Task 4 - Define the Social Business functions of Marketing, the risks in terms
of communications and the Social Media Solutions companies adapt to alleviate
these risks.
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Customer Support is a range of customer services to assist customers in making
cost effective and correct use of a product. It includes assistance in planning,
installation, training, troubleshooting, maintenance, upgrading, and disposal of a
product. This is different from technical support.
 Customer service is the provision of service to customers before, during and after
a purchase, a series of activities designed to enhance the level of customer
satisfaction. The importance of customer service may vary by product or service,
industry and customer. From the point of view of an overall sales process
engineering effort, customer service plays an important role in a businesses
ability to generate income and revenue. From that perspective, customer service
should be included as part of an overall approach to improvement. A customer
service experience can change the entire perception a customer has of a business.
 Some have argued that the quality of customer service has decreased in recent
years, and that this can be attributed to a lack of support or understanding, by
taking it out of the country or by working staff under deadlines and pressures.
 In terms of Social business, there are a lot of people involved in customer
relations within a public business, a lot of one to one communication, a lot of
importance to etiquette and quality of service. Click here for more details.
P2.5 – Task 5 - Define the Social Business functions of Customer Support, the risks
in terms of communications and the Social Media Solutions companies use to
alleviate risks.
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Scenario
Criteria
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Assessment
Recruitment refers to the process of attracting, screening, selecting a qualified person
for a job. At the strategic level it may involve the development of an employer brand
which includes an "employee offering".
 The stages of the recruitment process include: job analysis and developing some
person specification; the sourcing of candidates by search methods; matching
candidates to job requirements and screening individuals using testing; assessment of
candidates' motivations and their fitness with organisational requirements by
interviewing and other assessment techniques. The recruitment process also includes
the making and finalising of job offers and the induction of new employees.
 Depending on the size and culture of the business, recruitment may be undertaken inhouse by managers, human resource staff and/or recruitment specialists.
 Recruitment happens in business in many different ways, each with a different appeal,
e.g. Internal recruitment, Sourcing, Screening and selection, Lateral hiring, Recruitment
approaches, In-house recruitment, Employee referral, Outsourcing, Employment
agencies, Traditional agency, headhunters, Recruitment websites, Job Click here for
problems. Click here for Sales recruitments on YouTube.
 In terms of Social Business, there are a lot of people involved in the recruitment process
within a public business, a lot of one to one communication, a lot of importance to
etiquette and observation.
P2.6 – Task 6 - Define the Social Business functions of Recruiting, the risks in terms of
communications and the Social Media Solutions companies use to alleviate risks.
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Scenario
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Assessment
Funding and Crowdsourcing – All business have a department in charge of finance
and funding. This may be one person and their accounts or a whole building like
American Express dedicated to this one department. They are likely to be the least
communicative department but the most important as they handle, manage,
transfer and pay for everything. Every department deals with them, from
contracts, to payslips, to purchases.
 Crowdsourcing is the practice of obtaining needed services, ideas, or content by
soliciting contributions from a large group of people, and especially from an
online community, rather than from traditional employees or suppliers. This
process is often used to subdivide tedious work or to fund-raise start-up
companies and charities. It combines the efforts of numerous self-identified
volunteers or part-time workers, where each contributor of their own initiative
adds a small portion to the greater result. an comes from an undefined public
rather than being commissioned from a specific named group.
 In terms of Social Business, there are a lot of people involved in the Finance and
funding departments within companies, a lot of one to one communication with
suppliers, a lot of importance is set on precision and moderation as well as legal
issues and data protection.
P2.7 – Task 7 - Define the Social Business functions of Funding and Crowdsourcing,
the risks in terms of communications and the Social Media Solutions companies use
to alleviate risks.
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Assessment
Internal employee collaboration is working with each other to do a task and to
achieve shared goals. It is a reciprocal process where two or more people work
together to realise shared goals, for example, an endeavour that is creative in
nature - by sharing knowledge, learning and building consensus.
 Most employee collaborations require leadership, although the form of leadership
or a t least a set purpose. Teams that work collaboratively can obtain greater
resources, recognition and reward when facing competition for finite resources.
 Structured methods of collaboration encourage introspection of behaviour and
communication. These methods specifically aim to increase the success of teams
as they engage in collaborative problem solving. Forms, charts and graphs are
useful in these situations to objectively document personal traits with the goal of
improving performance in current and future projects.
 At the edn of the day all employees do not work alone, work is linked and all
employees work to that greater goal, working collaboratively pushes this forward.
Click here, here and here for more details.
 In terms of Social Business, teams get formed all the time within companies, a lot
if daily collaboration is necessary to drive business and a lot of communication is
necessary to encourage effective collaborative working.
P2.8 – Task 8 - Define the Social Business functions of Employee Collaboration, the
risks in terms of communications and the Social Media Solutions companies use to
alleviate risks.
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Scenario
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Assessment
Sales - In business a sales process describes an approach to selling a product or
service and is the ultimate goal of any business from charities to schools. Reasons
for having a well-thought-out sales process include seller and buyer risk
management, standardised customer interaction during sales, and scalable
revenue generation. Approaching the subject from a "process" point of view offers
an opportunity to use design and improvement tools from other disciplines and
process-oriented industries.
 Everything within a company, any company, rotates around this issue, and every
department within a company relies on this target in order to survive. The rise of
Social Media in Social Business models is there as a tool to drive sales faster
whatever else s argued. Alleviate customer one to one, improve sales, 24/7
business, improve sales, improve customer support, improve sales, relocate,
lower prices, improve sales.
 Sales happen in many forms, direct sales, online, Door to door, Telemarketing,
Hawking, B2B, B2C, C2C, C2B and pro-Forma sales. All these have techniques
attached, some hard sell, some soft sell, some both.
 In terms of Social Business, Sales still need to happen all the time within
companies, which means a lot of communication is necessary to encourage sales
and sale driven plans.
P2.9 – Task 9 - Define the Social Business functions of Sales, the risks in terms of
communications and the Social Media Solutions companies use to alleviate risks.
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Scenario
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Assessment
Product Development - In business new product development (NPD) is the process of
bringing a new product to market. A product is a set of benefits offered for exchange
and can be physical or a service or experience. There are parts involved in the
development process: one involves the idea generation, product design and detail
engineering; the other involves market research and marketing analysis. Companies
typically see new product development as the first stage in generating and selling a
new product within the overall strategic process of product life cycle management.
 The stages of development are Idea Generation, Idea Screening, Concept Development
and Testing, Business Analysis, Beta Testing and Market Testing, Technical
Implementation, Commercialization and finally New Product Pricing
 To reduce the time that the NPD process takes, many companies are completing several
steps at the same time. Most industry leaders see new product development as a
necessary process where resources are allocated to identify market changes and seize
upon new product opportunities before they occur. They also see it as an on-going
process in which the entire business is always looking for opportunities. Click here for
more details.
 In terms of Social Business, Product Development still need to happen all the time
within companies, which means a lot of communication is necessary between finance,
R&D and the business.
P2.10 – Task 10 - Define the Social Business functions of Product Development, the risks
in terms of communications and the Social Media Solutions companies use to alleviate
risks.
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Assessment
Supply Chain Operations (SCM) - is the management of the flow of goods. It
includes the movement and storage of raw materials, current inventory, and
finished goods from point of origin to point of consumption. Supply chain
management has been defined as the "design, planning, execution, control, and
monitoring of supply chain activities with the objective of creating net value,
building a competitive infrastructure, leveraging worldwide logistics,
synchronizing supply with demand and measuring performance globally."
 SCM draws heavily from the areas of operations management, logistics,
procurement, and information technology Supply chain management addresses
the following problems:
 Distribution network configuration, Distribution strategy, Trade-offs in logistical
activities, Information, Inventory management, and Cash flow.
 Supply chain execution means managing and coordinating the movement of
materials, information and funds across the supply chain. The flow is bidirectional. Technology helps, RFID, CRM, Stock Control and GPS particularly.
 In terms of Social Business, Supply Chain operations happen within all companies
small ones like schools still need deliveries, large ones like Amazon operate
almost wholly on the success of this.
P2.11 – Task 11 - Define the Social Business functions of Supply Chain Operations,
the risks in terms of communications and the Social Media Solutions companies use
to alleviate risks.
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Scenario
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Assessment
Companies who have adapted the previous sectors above within their businesses
and made changes to the way business functions are usually successful. They
like to boast. Others use their business models as a guide for their own future
successes. From the following list, choose three different sector companies who
have successfully adapted Social Media into their business planning and identify
the range of social media used to promote their business operation.
 Create a report that demonstrates this process and outlines their successes.
Each report should be outlined as follows:
◦ Purpose and Aim of the company
◦ Products or services offered
◦ Content of the Policy Document
◦ Core Values
◦ Intended Audience of the Policy Document
◦ Demonstration of successes related to policy headings.
◦ Annotated examples of the approaches and promotional activities.
 Use either of the documents supplied here, here, here, here and here, or select
from the links to Social Media Sites here and Social Media Governance site. Some
links may no longer function. Oh the irony.
M2.1 – Task 12 – Create a report of 3 business Social Business policies and their
effective transfer of these policies into real life Social Media programmes.
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Scenario
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Assessment
Using the business policies and social media promotions as a basis of good
practice you will need to compare and contrast what works well and what does
not within the three businesses and what a company can take from the lessons.
Within this you will need to identified the key focus and concepts for both social
media and social business.
D2.1 – Task 13 – Create a report of 3 business Social Business policies and compare
their strategies and successes with emphasis on their key focus and concepts.
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Key Focus and
concepts
Successes
Failures
Comparison to the
other businesses
Suggested
improvements
Customer Support
Business 1
Business 2
Business 3
Communication
Supply Chain
Public perception
Media Content
Managing negative press
Scenario
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Assessment
P2.1 – Task 1 - Define the terms Social Business and in terms of your
school, define what a Social Business Model would mean to the contact
time with their customer base.
P2.2 – Task 2 - Define the characteristics of Social Business and in terms of
your school, define what a Social Business Model would mean in terms of
training, etiquette and analysis.
P2.3 – Task 3 - Define the Social Business functions of Investor Relations
the risks in terms of communications and the Social Media Solutions
companies use to alleviate risks.
P2.4 – Task 4 - Define the Social Business functions of Marketing, the risks
in terms of communications and the Social Media Solutions companies
adapt to alleviate these risks.
P2.5 – Task 5 - Define the Social Business functions of Customer Support,
the risks in terms of communications and the Social Media Solutions
companies use to alleviate risks.
P2.6 – Task 6 - Define the Social Business functions of Recruiting, the risks
in terms of communications and the Social Media Solutions companies use
to alleviate risks.
Scenario
Criteria
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Assessment
P2.7 – Task 7 - Define the Social Business functions of Funding and
Crowdsourcing, the risks in terms of communications and the Social Media
Solutions companies use to alleviate risks.
P2.8 – Task 8 - Define the Social Business functions of Employee Collaboration,
the risks in terms of communications and the Social Media Solutions companies
use to alleviate risks.
P2.9 – Task 9 - Define the Social Business functions of Sales, the risks in terms
of communications and the Social Media Solutions companies use to alleviate
risks.
P2.10 – Task 10 - Define the Social Business functions of Product Development,
the risks in terms of communications and the Social Media Solutions companies
use to alleviate risks.
P2.11 – Task 11 - Define the Social Business functions of Supply Chain
Operations, the risks in terms of communications and the Social Media
Solutions companies use to alleviate risks.
M2.1 – Task 12 – Create a report of 3 business Social Business policies and
their effective transfer of these policies into real life Social Media programmes.
D2.1 – Task 13 – Create a report of 3 business Social Business policies and
compare their strategies and successes with emphasis on their key focus and
concepts.
Scenario
Criteria
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Assessment