Impact of Social Networking Websites on Business Today

Abstract

A social networking website is a social structure build-up of individuals or organizations called “nodes”, which are connected by one or more specific types of mutuality, such as friendship, common interest, financial exchange, dislike relationships of beliefs, knowledge, prestige and information. This article focuses on social networking websites and their impact on business. It aims to identify opportunities and ways to be effective as promoters of businesses to internet users all over the world, 24 hours and 7 days, creating unlimited possibilities for advertising potential. This article reviews the best social networking websites currently used as well as examples of ways in which business can use these types of websites to expand their target markets. This article also gives insight about the threats and challenges associated with social networking websites, as well as things for businesses to watch out for if they determine to use these types of websites. Social networking websites will continue to shape the ways in which businesses collaborate and communicate, both inside and outside of enterprise.