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Q1. How can social media such as LinkedIn, Facebook, and Twitter be used to improve knowledge sharing, build social capital, support innovation, and aid problem solving in one of the following context - - A multinational corporation - Small business networks in Australia or your home country - Networks of community based Not for Profit organisations in Australia or your home country Discuss the associated risks and benefits for this context Table of Contents Introduction 4 Building Social Capital 5 Improving Knowledge Sharing 6 Aid Problem Solving 7 Supporting Innovation 8 Risks of Social Media 9 Conclusion 10 References 11 Introduction This essay examines how social media can be used to assist…show more content…
This portrays an inability of multinational organisations to effectively utilise social media as a communication tool. With social media properly managed as a communication tool, organisations can enhance their knowledge sharing abilities, enhance social capital, encourage innovations and assist in problem solving. Building Social Capital Concepts of social capital are based on the organisation’s personnel. Human capital refers to the knowledge pool of the employees in the organisation (Leitch et al. 2013). Social capital refers to the knowledge networks within the organisation, how knowledge is collected, disseminated and shared in order to provide a competitive advantage (Hamel and Prahalad 1994). Social capital can be identified into three dimensions, structural, relational and cognitive dimensions in which can be improved further with the help of social media (Jashapara 2011). To achieve competitive advantage, development of social capital is vital to aid in the creation of knowledge in the organisation. The table below portrays how usage of social media can benefit the structural, relational and cognitive dimensions of the organisation’s social capital. Structural | Relational | Cognitive | - Additional tool to knowledge infrastructure- Vital
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