Critical Thinking Chapter 3

Critical Thinking Chap 3 – Hussein Alaouie

1. There are numerous business opportunities that could be created by a worldwide social media network. One potential opportunity is big data. Since you have a ‘phonebook’ of everyone in the world, you can use that data to analyze trends and use that analytics for advertising. Marketing relies on data. Without data, you are wasting resources targeting the wrong audience. When you have information on every single person in the world, you can target your audience much more efficiently. International enterprises can use this type of data to research market trends and increase sales profits. Besides making money, this worldwide social media network could be used to enhance products. You can research your product through social media. No more sending out mail surveys and waiting for them to come back, with social media, you can receive real time results. You can even promote your product on social media without spending money. Small startups can promote their products using social media to connect with new customers.

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2. One of the most important changes would be that the world will now become one. With a world phone book, there are no borders. Everyone can communicate as if they are neighbors now. Societal implications of this would mean that everyone can cooperate with each other without governments or other hassles blocking them. Another implication of a world phonebook would be that privacy standards would change. Positive implications can include instances like the Boston bombing. Once the FBI knew who the bombers were, they used social media to assist them in the capture of the suspects.

http://www.huffingtonpost.com/kim-garst/social-media-as-a-catalys_b_3197544.html

3. The benefits of social networking would be that everyone can collaborate quickly and efficiently. You can now conduct business all over the world. This will change the way people do business and change the global...