Part 1-
Watch "World is Flat" video by Thomas Freedman (for first 40 minutes or so) - this video discussed how technology is sharing our modern relationships: with others, with ourselves, with it, and more importantly, how we are losing our self-awareness as we navigate and "connect" in our daily lives.
Video Link: https://video.mit.edu/watch/the-world-is-flat-9145/
Questions:
1. Humans have always been social, seeking out connections with our fellow humans. Does technology allow us to do Old things in new ways or is this the future of human interactions?
2. Does technology really provide us with real connections? Why or why not?
3. It is important, especially in the business world, to be able to communicate effectively. What do you believe is the key to being able to maintain effective social skills in our digital world?
Part 2-
The Business of Social Media and Making the ROI
Read Closing Case Study Two (The Business of Social Media and Making the ROI) on page 60 (Chapter 2) and answer the following FOUR questions:
a. Let's suppose your current annual sales are $1 million. You implement social media strategy and begin generating $200,000 in revenue through your Facebook page. At the end your sales are still $1 million. Was your social media strategy successful? Why or Why not?
b. Every social media strategy costs money to implement and there are a few of those costs listed in the case study. Identify a few other costs that you think are associated with social media. Briefly describe them and classify them as fixed costs or variable costs.
c. Suppose you have a successful business with a well-liked product. One day something goes wrong and you ship 100,000 defective products. Almost the entirety of your customer base is disgruntled. What social media strategy would you employ to help? Why?
d. Would you be better off by just "waiting for it to get over" or "by sticking your head in the sand"? Why?
Attachment:- Case- The Business of Social Media and Making the ROI.pdf