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Question: Discuss about the Advantages and Disadvantages of using Social Networks in Business like Apple, Samsung and Lenovo. Answer: Social Networking has become an integral part of the business organizations in the present times. Market times such as Samsung, Lenovo and Apple have been making use of social networking channels and mediums to maximize the customer base along with the market profits. There has been a research carried out to understand the advantages and disadvantages of social networking on these organizations. According to the sampled data, Samsung made the highest from in 2013 that stood at 28.28 million and the lowest profit in 2015 at 16.85 million dollars. However, the highest expenditure was in 2016, which did not commensurate with achievement of the highest profit realized for the years under review. Out of the three companies under review, Samsung came second in terms of market share measured using the profit. The t-test revealed a test statistic of 8.307 associated with a p-value of p .01. The decision was therefore to reject the null hypothesis and conclude that the is evidence to suggest that there is a difference in mean profit between 2013 and 2016 (t=8.307, df=3, p.01). Results from the analysis of Apple revealed the company made the highest profit in 2015 at a value of 71.23 million dollars and the lowest profit was in 2013 at a value of 48.9 million dollars. In terms of advertising, the highest expenditure was in 2015 at a value of 14.329 million dollars. In the case of Apple, there seemed to be a relationship between the amount spent on advertising and profit. This was evidenced by the fact that 2015 was the year Apple spent the highest in advertising compared to the other years and its the same year that the company realized the highest profit. Further analysis revealed that Apple was the market leader in comparison with Samsung and Lenovo. The t-test revealed a test statistic of 11.832 associated with a p-value of p.01. The decision was to reject the null hypothesis and conclude that the mean difference between the years (t=11.832, df=3, p.01). The results of Lenovo revealed quite a different scenario in comparison to Samsung and Apple. The highest profit realized by Lenovo was in 2013 at 6.35 million dollars and the worst year was in 2016 when the company suffered a loss of 0.062 million dollars. In terms of advertising, the company spent the highest amount in 2014 at 5.574 million dollars. The results of the analysis of Lenovo did not seem to show any relationship between advertising and profit. On further analysis, the t-test revealed a tests statistic of 1.701 that was associated with a p value of p=.188. The decision therefore was to retain the null hypothesis and conclude that there was no evidence to suggest that the mean profit was drawn a sample such that the mean is different between the years. The results of the three companies sampled seemed to suggest that in general the amount spent in advertising has positive correlation with profit. It should however be noted that the sample data was only for 4 years. That although the was statistically significant evidence to suggest that the mean profit is different from zero, further research needs to be done with a bigger sample size using more years. The strategies that are utilized by Samsung, Lenovo and Apple in terms of social networking and social media marketing are different from each other. There are various reasons that are involved and can be observed behind the difference in the strategy that is adopted by the three companies. Apple and Samsung are considered as prime rivals of each other in the field of Smartphones and related accessories. Apple is not present on ant of the social media channels for marketing and advertising purposes. It also does not have any of the blogging sites. It is because of the reason that Apple decided to stick to TVCs. Apple also does not have any web series or promotional activities in running. It is because of the reason that it is required to have a distinguished feature in comparison with the rest of the companies. Also, Apple is considered a prime market giant and the rest of the companies have been trying to come up to the pace and the market share that is currently captured by Apple. Apple has also accused Samsung of copying its patented features and functionalities in the past. Therefore, Samsung has managed to achieve huge market share as well; however, it is still trying to cope up with Apples market at present (Chianasta, 2014). The competition between the companies along with the expectations of the market is the reasons that are present behind the change and variations in the sum that is invested in marketing and advertising on the social networking channels. Samsung, Apple and Lenovo deal in the field of mobile applications, gadgets and other electronic appliances. There is a lot of competition in the field and therefore various different strategies are adapted and followed by the companies to maintain an edge in the market. Real time information plays an important and significant role for all the three organizations. The variance in the results is seen because of the requirements in terms of the real time information collection and gathering. Information discovery and its requirement at different points of time also plays a major role behind the difference in the result (Collin, 2011). Conclusion Social networking has a lot many advantages and disadvantages for Samsung, Apple, Lenovo and many other organizations. It is being used for marketing, advertising and communication activities by a lot many companies in the present times. The advantages that are provided by the social networking activities to the organizations include enhanced customer base and market shares. Customer expectations and requirements from the Smartphones and other electronic gadgets is being changing at a rapid speed. It is because of the reason that the technology is changing at a fast pace and it has an impact on the change on the requirements as well. Social networking allows easy gathering and analysis of the customer data to understand the customer preferences and choices. It allows organizations such as Samsung and Lenovo to understand the customer preferences and provide them with the products and services as demanded by the customers. Social networking channels also provide an easy and convenient medium for the identification of the data sources to collect the relevant information from the users, market entities and other sources of data. However, there are certain security concerns that are also associated with social networking as well. There are occurrences when the attackers and other malevolent entities make use of social networking channels to gain the information that is posted on these mediums (Baruah, 2012). There is a lot of customer information and company information that is available on the social media channels. Attackers acquire this information with ease and then make use of the same to achieve competitive edge over other organizations. Also, there are many cases of information breaching and data loss that is observed in association with the social networking channels. It results in the damage to the information properties such as confidentiality, privacy and integrity of the information. Emergence of social peer pressure is also one of the disadvantages tha t is seen in the field of social networking. References Baruah, T. (2012). Effectiveness of Social Media as a tool of communication and its potential for technology enabled connections: A micro-level study. [online] Available at: https://www.ijsrp.org/research_paper_may2012/ijsrp-may-2012-24.pdf [Accessed 18 Jun. 2017]. Chianasta, F. (2014). The Impact of Marketing Promotion through Social Media on Peoples Buying Decision of Lenovo in Internet Era: A Survey of Social Media Users in Indonesia. [online] Available at: https://www.ijsrp.org/research-paper-0114/ijsrp-p2531.pdf [Accessed 18 Jun. 2017]. Collin, P. (2011). The Benefits of Social Networking Services. [online] Available at: https://www.uws.edu.au/__data/assets/pdf_file/0003/476337/The-Benefits-of-Social-Networking-Services.pdf [Accessed 18 Jun. 2017].