The huge popularity of social networking website where people from all over the globe share their ideas and photos is becoming a preferred choice for companies to improve communication and productivity. The slumping economy seems to have affected travel cost immensely as more and more companies are looking for alternate ways to make their workforce more effective. The development of social networking website in a friendly atmosphere with less complexity in terms of functioning has led to the huge popularity of such services. More and more corporations are experimenting and exploring the use of social networks to improve their productivity and business operations. Previously the companies only showed casual curiosity but within the past few months there has been a genuine shift of interest. Hundreds of companies including some famous names like Smart Car and Saturn are making use of this efficient method to improve their businesses.
It is quite important for a business to communicate effectively with its workforce that might be spread throughout different parts of the world. Apart from that it is necessary to increase contacts at high rate as it leads to new opportunities and opens new doors for business expansion. A social networking website opens up a new world of business contacts giving the company more access to the real world. For large organizations that are geographically dispersed, employ-only sites prove to be an excellent source of communication. Hot Topic which is a retail chain is planning to come up with an internal site powered by software vendor, Socialcast that will allow nearly six thousand employees to create ideas and share data. The developments of such type of technologies have allowed businesses to grow outside their physical borders.
Every business in the world expects to be able to communicate with their workers at a speed that was not possible previously. The social networking website allows quicker conversations that help businesses to move fast on opportunities and adjust their strategies accordingly. Corporate social networks help to cut down on unnecessary instant messages and email among co-workers. Recently LinkedIn came up with a new service known as ‘Company Groups’ where company’s employees can gather into a single web forum and share their ideas. Till now more than one thousand companies have subscribed for service offered by LinkedIn.
A business efficiency software maker known as Model N uses this technology to increase communication effectiveness among 160 of its employees throughout North America, India and Europe. A business that uses social networking website can expect to handle the advancements in business and technology in an effective way. The future of a business lies on effective communication and strategies so that it is quickly able to grasp the opportunities and make good use of it. With the help of social networks various companies can receive feedbacks from the customers and improve on the areas they are lacking. The cost of the services can be reduced as most of the problems faced by the customers can be immediately solved on the spot.