This research report will elaborate on the social media as a concept that interacts with the business sector. Hence, it will emphasize on the global economies impact towards the social media, the changes that have occurred, as well as the development of social media. It has been stated that social media is the powerful force that uplifts the global economy. The main factors is the usage of social media like social networks and forms of business that use social media a source of improve the working environment. The conclusion will be based on the overall impact social media has caused in people’s lives and the society.
“How has social media uplifted the society and impacted the global economy and the interface of the business sector?”
What is the meaning of social media and global economy?
Who established social media and networking sites?
How does the business sector interact with social media?
What is the role of the social media playing in the society?
2. The definition of social media and global economy
Social media is the interaction between individuals or groups with technological excess to connect with the internet like Facebook, Twitter, and MySpace in order to save time and cost, to deliver the messages in a fast and effective manner(Coleman 2008: 118). This encourages contributions and feedback from people that are interested in the social media. Social media opens doors to a world of freedom by sharing information rapidly. The services of media is to promote voting in the political institutions, advertising a new brand company as well as embarking on alternative ways to discover a variety of information through the World Wide Web. There are hardly ever any obstacle to access the content such as shoes, fashion trends, modeling agents, diet plan tips, celebrities, job opportunities, cooking methods, bag collection and interior designers.
It simply happens in the palm of the hand. The research could be done on the computer and logging onto the internet to search relevant information to assist you with homework, teamwork tasks or projects. The discussion that happens on the social media can be viewed through the television or distributed to the various communication networks. The population allows social media for effective communities to perform good interaction with the environment. For instance, the society can share similar interests, like a passion for photography, basketball, tennis, chess, and television shows. Social media connects people through sites, blogs, instant messaging, and webpage’s. The media always thrive to improve the lives of people by making sure that things are done accurately and at a fast pace for resources to be delivered on time (Jones 2006: Internet source).
Global economy is the state in which the economic relationships between different countries in the world will market to the foreign countries and scatter across the national borders, while integrating a large amount of facilities to sustain their finances for a longer period of time. The system of trade and industry has been brought forth by globalization (Jones 2006: Internet source). This term global economy refers to the transformation of the economy of the world that is legally accepted to transport goods, labour, services freely, because of the transnational systems. Its task is to increase the inter-connected world by providing free movement of capital around the world. However, global economy is a loaded term and cannot be used on its own. It also includes globalization that is defined as the integration of the means of production and the consumption of the market amongst the state, which has advanced technology that assist the developed countries in the world like Africa, Kenya, Ethiopia and Malawi as well as other places in the world (Lewis 2005: 499).
7. Reference List
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Browning, L. D., Satre, A. S., Stephens, K. K., & Sornes, J. O. 2008. Information and communication technologies in action: Linking theory and narratives of practice. New York: Routledge.
Coleman, P. & Lane, M. 2008. Technology ease of use through social networking media. Journal of Technology Research. 4(2):112-240.
Coyle, C., Vaughn, H. 2011. Social networking: Communication revolution or evolution? Bell Labs Technical Journal, 13(2): 13-18.
http://www.global-economic-symposium.org/knowledgebase/the-global economy/optimizing-information-use-through-the-internet-and-social media/proposals/optimizing-information-use-through-the-internet-and-social-media (Accessed 3 March 2013).
Jones, P. 2006.http://www.economywatch.com/world_economy/world-economic indicators/global-economy/define-global-economy.html (Accessed 5 March 2013).
Lewis, C., & Fabos, B. 2005. Instant messaging, literacies, and social identities. Reading Research Quarterly, 40 (4): 470-501.
Matei, S., & Ball-Rokeach, S. 2003. The internet in the communication infrastructure of urban modernization. Journal of Communication, (3)53: 642–657.
Pencheva, A. & Georgieva, D. 2012. The social media fundamental development.
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