BIS 3233 - Chapter 9: Social Computing
Summary
TLDRThis lecture transcript covers a range of topics, starting with a reminder about a group assignment due date and an explanation of exam grading on the learning platform Canvas. The instructor discusses the importance of participation, clarifies grading policies, and addresses student questions. The session then delves into social computing, exploring its applications in business, including social shopping, collaborative consumption, and marketing strategies. The role of social media in advertising, market research, and human resources is also highlighted, emphasizing the impact of social media on customer relationships and brand promotion. The discussion concludes with a reflection on the potential pitfalls of poor social media management and its consequences.
Takeaways
- 📅 The group assignment discussion is due today by 11:59 PM and can be submitted via the file submission assignment or the 717 2020 dropbox in Canvas.
- 🏆 The assignment is worth 25% of the grade and is graded on completion rather than the correctness of the opinion provided.
- 🤔 There was a question about exam grades showing multiple scores; the instructor clarified that the 'exam one raw' is the unadjusted score, and the final grade used for calculations is adjusted and includes any bonus points.
- 📊 The instructor manually calculates grades after every exam due to Canvas' difficulty in accurately reflecting grade calculations as per the syllabus.
- 📝 An optional, anonymous survey was sent out to gather feedback on the course and instructor's performance, which does not affect grades.
- 😷 The instructor shared a humorous anecdote about wearing a mask and coordinating his shirt colors, aiming to lighten the mood before delving into the lecture.
- 🔒 The lecture touched on the Google Plus breach as an example of security vulnerabilities and the potential impact of regulations on businesses.
- 📈 The concept of social computing was introduced, discussing its role in businesses, including social shopping, collaborative consumption, and marketing strategies.
- 📱 Basic technologies that facilitate social computing, such as tags, hashtags, RSS feeds, blogs, microblogs, and wikis, were explained.
- 🛒 Social commerce and the sharing economy were discussed, highlighting platforms like Uber and Airbnb that operate on collaborative consumption.
- 💬 The importance of understanding the purpose of different social networks was emphasized, noting the network effect and how it serves as a barrier to entry for new social networks.
Q & A
What is the deadline for the group assignment discussion mentioned in the lecture?
-The deadline for the group assignment discussion is Monday at 11:59 PM.
How can students submit their group assignment discussion?
-Students can submit their group assignment discussion either through the file submission assignment or by using the 717 2020 dropbox in Canvas.
What is the significance of the group assignment discussion in terms of the course grade?
-The group assignment discussion is worth 25% of the course grade. It is graded on completion, not on the correctness of the opinion expressed.
How does the instructor plan to calculate the final grades for the exams?
-The instructor plans to calculate the final grades manually after every exam, using only the scores from Exam One, Exam Two, and Exam Three.
What is the difference between the 'Exam One Raw' and the 'Exam One' score in the grade book?
-The 'Exam One Raw' is the initial score before any adjustments, while the 'Exam One' score includes any bonus points earned, and this is the one used for grade calculations.
Why did Google delay notifying the public about the Google Plus breach?
-Google delayed notifying the public about the Google Plus breach because they feared regulation.
What is the impact of regulation on businesses according to the lecture?
-Regulation can act as a barrier to entry and increase the cost of products or services, making businesses hesitant to support it.
What is the role of tags in social computing?
-Tags, like hashtags, aid in information retrieval, making it easier to find information on social networks and other online platforms.
What is the difference between a blog and a microblog?
-A blog is a web page where people share information, often in a more detailed format, while a microblog, like Twitter, consists of short snippets or posts.
What is the concept of the sharing economy as discussed in the lecture?
-The sharing economy involves collaborative consumption where individuals exchange the use of assets, like cars or homes, for payment, often facilitated by platforms like Uber or Airbnb.
How can social media be used for marketing purposes?
-Social media can be used for advertising, market research, customer service, and outreach, as well as for promoting new products and engaging with customers.
What are the potential issues with relying on customer reviews for product evaluation?
-Customer reviews can be biased, fraudulent, or edited, which may not provide an accurate representation of the product's quality or value.
How can social computing be used in human resources?
-Social computing can be used in human resources for recruitment, onboarding, employee development, and job searching, utilizing platforms like LinkedIn for networking and information sharing.
Outlines
📅 Course Announcements and Group Assignment Reminder
The lecturer begins with a reminder about a group assignment due on the same day at 11:59 PM, mentioning the submission process through a file submission assignment or a dropbox within the learning platform Canvas. They clarify that the assignment is opinion-based, with a completion grade of 100% for submissions. The lecturer also addresses a question about exam grades, explaining the difference between raw scores and adjusted scores after a curve has been applied. They emphasize that only the adjusted scores are used for grade calculations and that Canvas may display different scores, but the final grade is calculated manually by the instructor.
😷 Campus Mask Policy and Google Plus Data Breach Discussion
The lecturer shares a humorous anecdote about wearing a mask on campus and coordinating with their shirt, leading into a discussion about data breaches, specifically the Google Plus breach. They discuss the implications of delayed disclosure by companies due to fear of regulation, tying it back to security vulnerabilities and business hesitancy towards regulations. The lecturer also mentions recent Twitter account breaches to highlight the prevalence of such incidents in social networks.
💻 Social Computing and Its Role in Business
The lecturer delves into the topic of social computing, discussing its definition and its use in businesses, including social shopping and collaborative consumption. They explore the role of marketing in this context and introduce various technologies that facilitate social computing, such as tags, hashtags, real simple syndication (RSS), blogs, and microblogs. The importance of these technologies in information retrieval and sharing is emphasized, along with the unique purposes they serve in different social networks.
📚 Understanding Social Networks and the Network Effect
The lecturer discusses the concept of social networks, including wikis, and the collaborative nature of platforms like Wikipedia. They use a comic to illustrate the appropriate use of different social media tools, such as Foursquare versus Twitter. The network effect is introduced as a significant barrier to entry for new social networks, explaining how the value of a network increases with the number of users, and the challenges this presents for new market entrants.
🛍️ Social Commerce, Enterprise Social Networks, and Privacy Concerns
The focus shifts to social commerce and its benefits for businesses, such as reduced barriers to entry and cost-effectiveness. The lecturer contrasts enterprise social networks, which are public-facing, with corporate social networks, which are private and used within a company. They also touch on privacy concerns on social networks, advising caution on what is shared and the importance of trust in privacy settings.
🏪 Social Shopping, Sharing Economy, and Marketing Strategies
The lecturer discusses social shopping, including customer reviews and group shopping dynamics, and the importance of authenticity in online reviews. They introduce the sharing economy, with examples like Uber and Airbnb, where assets are exchanged for payment. The potential issues with relying too heavily on a small number of contributors or customers are also highlighted, along with the marketing opportunities and strategies that social media offers businesses.
📝 FTC Guidelines on Reviews and Social Media Marketing
The lecturer addresses the FTC guidelines regarding online reviews, discussing the conditions under which companies can remove reviews and the importance of not removing legitimate negative reviews. They also explore the use of social media for market research, advertising, and human resources, including recruitment, onboarding, and employee development, emphasizing the value of social computing in these areas.
🤝 Leveraging Social Computing for Business and Customer Engagement
The lecturer concludes the session by summarizing the various ways firms can use social computing for business purposes, customer engagement, and brand promotion. They highlight the importance of accurate information dissemination on social media and the potential disasters that can occur due to poor social media management, such as the spread of misinformation during the coronavirus pandemic.
Mindmap
Keywords
💡Social Computing
💡Group Assignment
💡Canvas
💡Network Effect
💡Enterprise Social Network
💡Social Commerce
💡Collaborative Consumption
💡Digital Dossier
💡Sentiment Analysis
💡Human Resources
💡Social Media Management
Highlights
Announcement reminder for the group assignment discussion due on Monday at 11:59 PM.
Clarification on the grading system for the group assignment, emphasizing it's a completion grade.
Explanation of exam grade discrepancies due to the application of a curve.
Discussion on the importance of submitting assignments for the sake of participation, not correctness.
Optional survey sent out for feedback, with assurance it won't affect grades.
Introduction to the topic of social computing and its relevance to businesses.
Discussion on the role of tags and hashtags in aiding information retrieval on social networks.
Explanation of Real Simple Syndication (RSS) for compiling and accessing headlines from various sources.
Differentiation between blogs, microblogs, and wikis in the context of social computing.
Illustration of the appropriate use of social media tools with a comic about Foursquare and tweeting.
Analysis of the network effect and its impact on the difficulty of new social networks entering the market.
Importance of information privacy and careful content sharing on social networks.
Overview of enterprise social networks versus corporate social networks, focusing on public vs. private access.
Introduction to social commerce and its benefits such as reduced barriers to entry for businesses.
Discussion on the sharing economy and collaborative consumption, exemplified by companies like Uber and Airbnb.
Exploration of social shopping, including customer reviews and group shopping dynamics.
Consideration of the Pareto principle in the context of social media content contribution and sales.
Highlighting the potential issues with fraudulent or biased online reviews and the need for caution.
Strategies for using social media in marketing, including targeted advertising and market research.
Utilization of social computing in human resources, from recruitment to employee development.
Final thoughts on the multifaceted applications of social computing for both businesses and individuals.
Transcripts
all right good afternoon everyone
i hope you all are doing well before we
get started with the lecture
i do want to make a couple quick
announcements um you may recall
that we had a
one of those group assignment
discussions i sent out some email
instructions kind of regarding what that
is for this unit just to remind everyone
that is due on monday which is today at
11
59 pm you can either submit it to the
file submission assignment
or you can also submit it to the seven
uh
i believe it's 717 2020 dropbox
it's just an assignment inside of canvas
if you go to the assignments you should
be able to see it
so most of the people who are here
probably attended uh
friday's lecture and they don't have to
worry about it but if you're watching
this later or maybe you missed friday
i'm certain to make sure you do that um
yeah it's something that's very
important it's 25
your grade and just to remind everyone
it's not about you know if you're right
or wrong
there is no right or wrong it's an
opinion question i'm not grading you on
your opinion
it's a completion grade if you submit it
you get 100 if you don't submit it well
you don't get a hundred that's for sure
uh any questions about that
it's not about that okay go ahead um
okay i saw
for exam one you have like two exam one
grades and then an exam one raw and then
i see like one exam one grade
okay so you're asking yeah i see one
exam one grade
has like um has like out of a hundred
the other one has
out of 56 and the exam raw i think that
one's out of 100 so i was like
but i thought you said you know it's
only one grade for the exam so i was
kind of wondering about that
yeah great question um so basically the
way that canvas does the
quizzes is that it's going to go ahead
and put it in the grade book
but i want to go ahead and add a curve
to that before i actually
do anything to it so that's what the
exam one raw is basically what i do is i
only work in percentages i don't do
points for anything so i go ahead and
convert it to a percentage and then add
a curve to it
and then finally the only grade that i
actually look at for
grade calculations is going to be inside
of the
exam one exam two and exam three so
those are the only ones that are going
to be used to calculate your grade
does that make sense yeah so the one
like out of a hundred
yeah i'm not sure if it's says it's out
of a hundred or not
um not the exam rob but like you have
two exams
ones and one of them is like one is out
of 100 points and the other one is out
of 56 points i guess because there were
56 questions
yeah so the one that's out of 56 is
probably just from
canvas whenever i made the quiz it
probably that's how it uh has it in
there
oh okay but you're going off with the
one out of 100 exactly
yeah okay so so basically the only
difference between the raw score
and the exam one score is that the exam
one score includes any bonus points you
earned on exam one
so it should be higher okay i got you
okay any other questions and so it's not
going to be the other two that aren't
going to be included with our grade
yeah the other two aren't factored in at
all ex canvas
may have it to where you see some sort
of grade it calculates but that's not
um that's not how i calculate your grade
and that's not how
you know doesn't necessarily follow the
syllabus canvas is really kind of
kind of difficult to work with in terms
of calculating grades so what i do is
after every exam i just calculate
everyone's grade manually it's much
easier
and you know we will cover in a next
unit
in the business analytics chapter about
how to actually calculate a grade
so it's really easy um if you're really
wanting to
calculate grades i've got it posted on
my youtube from uh
last semester so certainly feel free to
check that out as well
yeah any other questions
oh my god kyle you're unmuted you're
gonna ask something
oh uh no i'm good gotcha
no worries um so just remind everyone as
well
uh i did uh send out a survey to
everyone
it's completely optional it's not
factoring your grade in any way it's
fully anonymous
but it's to kind of get some feedback
from everyone and see
you know what i'm doing well what i
could improve on particularly you know
if you want to
give me some suggestions that'd be
really helpful to me i would greatly
appreciate it
like i said it is fully optional though
it's not factoring your grade in any way
so uh with that out of the way we're
gonna talk about social computing uh
before i do
i've got a really good joke i've been
saving um well it's not really a joke
but it's a funny story
as you can tell i'm wearing a blue and
white striped shirt today
and uh you know i'm in my new office so
one of the requirements for
you know being on campus now if you're
inside of a campus building
for the most part you have to wear a
mask and you know i didn't wear it
outside or anything anywhere in my car
you know but as soon as i got in the
building i put it on well i went to the
restroom earlier
and i think you guys will like this i
looked in the mirror
and uh look at the color coordination
i've got going on today
i just thought it was kind of funny um
really doesn't relate much to social
computing at all
but uh yeah it's kind of a funny way to
get class started there
so let's go ahead and talk about this so
before we go and talk about the specific
context i want to kind of
add this in to the discussion that we
had friday
regarding you know security
vulnerabilities and regulations and
stuff like that this is an article about
the google plus breach
which was a breach in which basically
information that was on google plus
was you know in some ways accessed by
third parties who weren't intended to
access it
and google actually held off on
notifying the public and notifying their
shareholders and
notifying government agencies that has
occurred for several weeks
and they actually gave their reasoning
because they feared regulation
so again i'm not saying whether this is
right or wrong but regulation is
something that
many businesses in particular would be
hesitant to be
supportive of um and again we kind of
see evidence that when we look at
something like portis five forces where
that's going to be a barrier to entry
it's also not just going to be a better
entry that's also going to make the cost
of the product or service more expensive
you know you could argue that some
regulations can make things cheaper
but you know you look at the the cost of
producing it if it were truly beneficial
a lot of market analysts and market
theories would argue
that they would have already done it so
again i'm not saying that's
correct or accurate in every case but
that's some of the common arguments too
so i think it's an interesting story
certainly we're talking about social
networks this is a big social network
breach
last week twitter was breached several
very
uh high profile twitter accounts were
hacked including you know
numerous politicians former politicians
as well as twitter's own support handle
so you know that sort of thing is
something that you know happens a lot
and it's something that's no stranger to
the social networking
sites so uh this is kind of an
interesting little story there
but we're talking about today is social
computing and specifically looking at
social computing in the context of
businesses you know
showing how they use it what it is
and you know why they use it so we're
also going to look at things like social
shopping
collaborative consumption all that sort
of thing as well as how marketing plays
a role in all this
so we're going to skip the survey for
today
but we're going to talk about you know
specifically the technologies that make
uh social computing possible so probably
the most basic technology
i can really talk about here today is a
tag
and a tag could be like a hashtag it
could also be a tag that you put at the
end of an
article to kind of help search engines
find it better but the whole purpose
behind this
is to really aid in information
retrieval so we have information
retrieval we can more easily find the
information down the road and
these are quite common on social
networks you know we talked about
hashtags being used
i've got the twitter example right there
it's very common
but really pretty much every social
network uses hashtags in some way shape
or form
and we have this idea of real simple
syndication that's going to be whenever
we compile
you know kind of short snippets of an
article and it allows us to have access
to a lot of different headlines
and maybe just like one or two sentences
about what the article is about
and it kind of allows us to have that
from a multitude of sources
so maybe we could have a news rss feed
and we subscribe to various different uh
news outlets maybe we subscribe to some
you know just to kind of get a wide
viewpoint about what's going on in the
world that's certainly
one thing you could do um and that's
really all it is too
you know it's just the idea of compiling
different sorts of published articles
in a kind of standardized format so
you're not limited to one particular
company's product or service you can
instead use
this inside of a more general way it's
basically a standard so
that's another web technology the whole
principle of a blog
something where people kind of share
maybe stuff that's about their hobby
maybe it's about their life
just lots of information that people are
interested in
and it's basically just a web page of
some sort maybe there's some pictures on
it
you get the idea it's kind of contrasted
by a micro blog
where instead of having you know pages
maybe it's just like a short little
snippet
maybe you know like the twitter example
here uh of course twitter's not the only
example of a micro blog but they're
certainly the most
common uh and then that contrasts with a
wiki
so in a wiki uh in most cases anyone can
edit it
there there's exceptions to that of
course but for the most part we're
talking about a wiki site
you know we have these sites where
basically anyone can go out of them
wikipedia of course being one of the
most famous examples
but that's not the only example of a
wiki i mean they're quite common for
like internal documentation
uh they're common for you know having a
thing that's kind of specialized to some
sort of a hobby or some sort of uh
interest of people uh they're quite a
common thing because they allow for
collaboration and they allow for things
like uh
tracking you know contributions uh
tracking all sorts of things like that
so i've got a cartoon here and if
someone will do me a favor and read that
off for me
dude you're not tweeting are you no i'm
checking in on foursquare
tweeting in the bathroom would be weird
yeah so that's a kind of i don't know if
it's that funny but i i think it's
moderately funny at least you know to
kind of talk about
you know using the correct tool for the
correct thing uh you know this
this uh this um cartoon right here
our comic that's what i'm looking for
this comic right here really kind of
does a great example of kind of
showing you know where you would use the
correct tool
so in this case you know you use
foursquare to check in you know you're
using location-based sorts of
information
and you're sharing that you know i'm in
the restroom you check into the restroom
but you wouldn't tweet from the restroom
according to this now
i don't know if you tweet from the
restroom or not but this is this kind of
humorous thing it kind of shows how
different social networks have different
purposes you know what you would post on
maybe you want to post on linkedin what
you would post on linkedin
maybe you wouldn't post your twitter
page i mean there's lots of different
social networks out there and they each
serve a somewhat distinct purpose
now imagine if they all serve the same
purpose it'd be
quite difficult to really justify using
more than one or two of them
and you know that would probably cause
some issues it would make it very
difficult to have
a new market entrant and enter the
market
so we're kind of thinking about this we
want to think in that context of does it
make sense to use it for this purpose
so you know and another thing that makes
it difficult for a new social network to
enter in addition to the fact they have
to have some sort of unique purpose
is there's also this idea of a network
effect so
that is to say that your social network
as it gains users it'll become more and
more valuable
so that's going to flip side to whenever
you gain
a certain amount of users the marginal
benefit
of a new user is very small if not
non-existent
so that is to say that if you had a
social network with say i don't know a
billion users on it
adding or subtracting one user is not
going to have a very large marginal
uh impact whereas we have a social
network that's starting out
and it's you know increasing in size
each of those marginal
new users is going to have a pretty
substantial impact and it's going to
provide
a lot of benefits to the firm in terms
of having something that's valuable
something that
you know has some reach to it so
that's beneficial from that perspective
but there's some drawbacks
and of course the main one being that
makes it very difficult to get a new
entrant into the social networking area
because would you want to join a social
network if on the entire website
they had maybe i don't know a couple
hundred thousand
users and then they had maybe only two
or three people you know
um someone answered that
would you join us for like websites for
social networks like
um well really for applications even
like for like instagram you can have
like public or private accounts so
usually a lot of companies like let's
say coca-cola would go
public so that it would filter through
to a mass
audience they could get a lot of
followers because that's how they're
trying to
that's one of the ways they communicate
with their customers
for example so you know come back to
kyle's point i mean you want to
communicate with a large amount of
people
if you only know two or three people on
the social network it's probably not
going to do a whole lot of good you
might as well you know text the people
email them
um whatever you would do you know that's
probably going to be a more effective
way so the network effect it really kind
of serves as
a huge barrier to entry and that's why
we haven't seen very many new social
networks
since the rise of you know the massive
social media companies we know today i
think tick tock is relatively new
but again i'm not recommending it you
know there's certainly a lot of
controversy
surrounding uh kind of its founding and
all that but
you know for the most part you know it's
very difficult for a social network to
really kind of take off
and you know earlier on maybe it was a
lot easier
but today we have established market uh
for that
and it's very difficult to become a part
of that market
and you know uh you also have the the
whole kind of premise is that you're
sharing
information so going back to the last
chapter
and really even before that we talked
about you know information privacy we
talked about how do you make sure that
your information is being private
well on a social network you know you
have some options there you can either
go into your settings
select who can view your content but
then beyond that you know you probably
also would want to
carefully monitor what you're sharing in
the first place
anything that can be used against you
down the road or maybe even an immediate
is probably not something you'd want to
share publicly
so you know whether or not you trust
those information sharing
settings you know it's important to
monitor carefully what you're putting on
there
so that's really the whole premise is
you know you can share ideas you can
share
you know sales if you're a firm if
you're an individual maybe you could
share some news about your life
whatever you want to share you can and
you know what really makes this a very
valuable tool
is the idea that you can share it with
thousands of people at a time maybe
millions of people at a time if you're a
large firm with a huge social media
following
and you can't do that with a lot of
other ways i mean you could sit at your
computer
you know type out a quick tweet and
millions people could view it so it's a
very beneficial thing
from that perspective of course the flip
side is what if you accidentally tweeted
out something
that could be a problem so it's all
about a balance here you know you want
to make sure that you look at the
advantages of it and look at the
disadvantages of it
but in addition to having you know the
public sorts of
social networks there's also going to be
this whole concept of having these
enterprise social networks
and these are also going to be public
but they're going to be for
company related things the book list
linkedin is an example of an enterprise
social network
i don't know that i'd consider it one
because it's not
tied to any particular company it is
owned by microsoft of course but you
know beyond that
it's not really for any one company any
company can go use it
i would instead think of enterprise
social network as being something that's
you know like almost as if it's a sort
of blog for employees to share
information publicly on
lots of tech companies in particular
have these sorts of sites where
you know the employees may post some
stories about how to use their products
maybe they'd post
some different product updates whatever
the case may be that'd be what i
consider more to be a
enterprise social network so it's a
slight little uh
disagreement on top of the author there
but beyond that
you know there's gonna be public facing
and in contrast if we look at something
like a corporate social network
that's gonna be something that's for
company use only it's not gonna be
public facing in other words if you're
not an employee of the company
you can't access the corporate social
network that they're using
some examples of this could be things
like slack could be things like yammer
different products microsoft teams is
another example of this where
basically it's a corporate social
network that is only open
to people within the corporation
basically
so that's the main distinction there
enterprise social network's gonna be
public
corporate social network's gonna be
private
also talk about social commerce though
so we talked about social media some and
you know kind of its basic uses
y'all are probably pretty familiar with
that i'd like to think um
if you're not um there's not many
questions on the test about you know
social media
but you know the whole idea behind
social commerce is
the exchange of goods and services
online
and it's very beneficial because you
know as we talked about
in which chapter was that
i'm pretty sure it's chapter 7 where he
talked about you know the whole concept
of disintermediation
you know it reduces barriers to entry
you know online shopping e-commerce
e-business
that's going to reduce the barriers to
entry well this is what social commerce
is
you know only we're kind of throwing in
a more social aspect to it so it's the
same kind of concept
so it's very beneficial for the firm to
engage in this because
it's very cost effective for them to the
flip side is is that
you know other firms could also then
compete
and you're going to have a lot more
rivalry if we think back to porter's
five forces
as you reduce those barriers to entry
new markets forces are likely going to
you know kind of join new firms are
going to start up maybe existing firms
may start to kind of encroach into our
market territory
so that's going to be a major
disadvantage of this
and you know we also want to think about
you know the pareto principle or the 28
year old where
we don't want to be in a situation where
20 of our users are contributing 80
of the content or 20 of our you know uh
customers
are buying 80 of our product and
you know it's kind of a strange thing to
say why would we not want that
well imagine that one customer was
responsible for say
you know 50 of your sales and then that
one customer becomes upset
you just lost half your sales so in
general you want to kind of avoid that
but it's not necessarily something you
can avoid
we also see that principle in things
like you know
contributions from users so if we had a
let's say we had a facebook page
we would probably see about 20 of our
users post some vast majority of the
content on that facebook page
maybe they say man i'm really loving
this product or man this this
uh this new thing is really great you
know whatever they would say
that's what we would see with the 2080
rule uh any questions so far
certainly feel free to jump in with any
questions at any time
uh but then you know beyond that you're
not just limited to having companies
kind of
engage in social commerce there's also
this idea of having the sharing economy
and the sharing economy what we have is
we have this whole concept
of collaborative consumption that is to
say that
you know we're i don't want to use the
term sharing the assets but one person
owns the asset
and they essentially you know exchange
use of that asset in exchange for some
sort of
you know money some sort of other method
of payment
whatever that could be and that's what
collaborative consumption is
you know great examples of this things
like uber you know uber the company
doesn't own
most of their cars i do believe they
have some sort of autonomous
vehicles but for the most part you know
they don't own the cars
they don't have employees while they do
have employees but
most of the drivers are not employees or
contractors
and that's what collaborative
consumption is same thing with airbnb
you know you airbnb for the most part
doesn't own
most of their listings they maybe have
you know people who
you know list their places on there and
then you know in turn assault
you could probably make an argument that
zillow's in a similar sense you know
where zillow the company doesn't
actually own any of their real estate
listings
that'd be a bit of a murkier example but
it certainly could be
something made where basically the
company that is you know kind of
engaging in the transaction
they're really only the intermediary and
that's an interesting concept and it's
something that you know has really kind
of taken off over the past 10 years
so again i wouldn't necessarily use the
term share for the
resources but basically just know that
what's happening is is that
in exchange for use you're getting money
that's that's really what it's about you
know capital
so that's that's kind of the whole
concept here any questions about that
okay so you know in addition to kind of
having this uh
concept of you know social commerce
sharing economy it's also the idea of
social shopping
and social shopping really kind of
manifests itself
in you know lots of different ways the
two primary ways that we're having
things like customer reviews present
where basically a customer has the
ability to review a product say what
they liked about it say what they didn't
like about
it maybe share some pictures maybe
sometimes even video
just kind of have a lot of input into
you know
what they thought about the product and
the whole concept is that these reviews
are not edited
um you know they're not removed based on
their content
anything like that as long as they post
something that's legal
it's not supposed to be removed that's
per a lot of the ftc
regulations but unfortunately that's not
something that's always followed
so you have to be careful of online
reviews you know whole concept is that
if you
are reading reviews and it sounds kind
of suspicious you know maybe it's
similar to all the other reviews
maybe the language is kind of uh kind of
not where you'd expect it to be
lots of things like that those could be
red flags maybe the review is not a
legitimate review
so that's something to watch out for you
know having reviews that are you know
done in exchange for a free product
maybe and even in exchange for payment
um those those tend to rate the products
and services a little bit higher than
they would
otherwise so it's not going to be a very
beneficial thing
but you know you can still get
information so
you know you don't necessarily want to
only go by reviews but certainly take
them into account could be
a good approach and then there's also
the concept of
group shopping and in group shopping
what happens is that there's these
different kinds of um
kind of groups of people and they're not
necessarily you know closely associated
but the whole concept is is that
if enough people purchase a product or
service the price will adjust
so you know if you think about a
traditional market if we had huge
amounts of demand what would happen
someone jump in here and tell tell me
what happens to the price of a product
if with large amounts of demand
the price will go up that's exactly
correct the price would rise
uh but with the group shopping you know
we have these sorts of flash deals where
maybe
if 1 000 people buy the product the
price is i don't know 20 bucks and if
you know 10 000 people buy it the price
may drop to like 19
and the whole concept is is that they
want to use that as an approach to kind
of
entice people to share the deal with
their friends who maybe are looking for
something similar
now the flip side of that is you can be
really annoyed by people who are like
hey
you know check out this deal on whatever
that can certainly get annoying very
quickly
so i'm not saying it's a good or bad
thing
but just that's kind of the pros and
cons there
okay companies remove like inappropriate
reviews
or if they can't who does
[Music]
so um you know it it depends on
what you mean by inappropriate it's like
in a legal review or if it's a
fraudulent review
companies can remove it um if it's a
review that the company doesn't like
then uh they would probably be best
advised
to follow you know sort of the ftc
guidelines for that and probably not
remove it
okay thank you does that make sense
could you just like block the person or
the like the person from uh
making a review again um you know if
it's a case of spam
like maybe they're saying i don't know
i've certainly seen a lot of these
lately where they're like check on this
link
for you know ways to make ten thousand
dollars a week or something ridiculous
like that
um yeah you could definitely block that
that wouldn't be an issue um the thing
is is
imagine that someone was dissatisfied
with a product and they did purchase a
product
you know they have a receipt for the
product you know and they purchase it
and then they
they use it for a bit and they say i'm
really not happy with it they write a
negative review
to my knowledge and to my understanding
of what the ftc guidelines are
you can't remove that review but if i
you know if someone
posts a review it's fraudulent
you know they didn't actually purchase a
product they're not even reviewing the
right product i mean
there are cases in which they can be
removed um it just can get companies in
a lot of trouble if they're moving
legitimate reviews
so again if there's any sort of illegal
content within the review
of course that can be removed any sort
of spam
content that can be removed but just in
terms of having a negative review that's
probably something that wouldn't want to
remove
any other questions
certainly some good questions and i'll
try to find that ftc
guideline to kind of send out maybe
just have a little bit more information
about it because that is an interesting
thing it's not anything i've ever looked
into in great detail
so let's talk about marketing i'm sure
we've got some marketing majors in this
class
so with social media we have the option
to do a lot of advertising on social
media
we could advertise on our own page you
know talk about what sort of products
and services we're offering maybe if we
have a new thing
maybe we have a sale we want to kind of
send that information out to people in a
cost-effective way
it's probably the most cost-effective
way to do it you know you spend
you know a couple minutes posting
something on you know various social
media accounts
that could really draw in a lot of
business but beyond that you know we
could also
contact you know the various um social
networks and maybe do some advertising
you know especially for people who are
likely to be within our target audience
or whoever target customers are rather
so for example if we're a
a makeup company or some sort of
cosmetic company
we may want to target people who are
likely to buy cosmetic products
you know you probably wouldn't want to
target someone like me who's pretty
unlikely to buy
cosmetic products i think that goes
without saying
um you know selling me makeup's not
going to be very easy because
i wouldn't buy it so you know you want
to make sure that you're doing that sort
of thing
and that's where social networks can be
a very beneficial thing they have lots
of information about their users
you know they can look at me and tell
pretty unlikely to buy makeup
whereas you know maybe more likely to
buy other
products or service and they'd get more
likely to buy
i don't know tennis rackets you know
tennis balls um
you know running shoes that sort of
thing so maybe the social networks will
be able to
you know kind of suggest their
advertisers hey you should maybe
consider
you know looking at these and so they
can get a
kind of a very targeted approach this
kind of goes back to the digital dossier
that we talked about and i think it's
chapter three
and that's where this all kind of comes
together and the information you put out
there can
and will be used so uh but you know
beyond that you can also do things like
market research
um you know we talked uh earlier about
doing things like sentiment analysis
on posts that mention your company
that's certainly something you could do
but then beyond that you can look at
your competitors you know you're not
just limited to your own company
because the information is publicly
available you could also look and see
how your competitors are doing you know
if they launch a new product you can
kind of monitor
what is a social network saying about it
are they saying this is a great product
are they not talking about it at all
is that the only thing they're talking
about there's lots of different
approaches you could take there
uh and yeah that's kind of goes into the
whole concept of what all information
can you get from social media i mean you
could also do things like post a poll
that's not necessarily something that
people are likely to take the time to
fill out
they could but you'd probably have
you know self-selection bias where you
may only have the two extremes kind of
uh
fill it out so people who really like
the product that you release
they may say this is a great product you
should keep offering it and people who
don't like it they may
share some opinions kind of regarding
that so there's a lot of different uh
approaches to that but
it's kind of the main things kind of
regarding marketing use of this
but in addition to that we can also use
uh you know social computing and
other online tools for things like human
resources so
you know just the basic thing you know
how do we recruit applications
yeah how do we recruit applicants you
know recruit applications of course
um yeah i mean you could post the sites
you could post the job openings on
various websites like linkedin
maybe even your facebook page you know
your twitter page for the company of
course
um they could certainly post those
positions uh also things like onboarding
you know
getting that training done it could be
done with a you know corporate social
network
where they have different modules and
different kind of sections and documents
and stuff for people to look through
um that's well within what a lot of
companies are doing
uh that kind of goes into employment uh
employee development
you know we're making sure that our
employees are kind of having you know
the
knowledge about what our company so
that's going to be things like using a
wiki
you know using internal documentation
and maybe even a corporate social
network again
but then beyond that you know certainly
doing things like job searching
so if we have a some sort of a network
especially like linkedin
you know we can easily search for jobs
available in our area if we're a company
and we can search for jobs within our
industry and kind of see you know where
do we think the salary should be for
this job
um you know if it's let's say there's a
thousand different openings
for a job and they're all within i don't
know
you know 30 miles of our company we
probably would be
um we'd be able to use that to say maybe
we need to pay more maybe we need to
offer more benefits to
attract applicants to our specific
company
whereas if the inverse were true imagine
if we did a search and found that
there's
no one offering this particular job
position within a 30 mile radius maybe
we say well
we don't really necessarily need to work
as hard to bring an application
you know to bring in applicants so
certainly it's something that can be uh
you know used by the company it's
probably not a
necessarily the best thing if you're the
job applicant and there's
you know only one job you can apply for
that's unfortunate but that's how the
market works
and then beyond that we can also use it
to sort applicants
so you know linkedin and many other
recruiting websites like that
have lots of tools to allow us to
quickly and efficiently kind of sort our
applicants kind of determine you know
do people meet the basic degree
requirements
do they meet our experience requirements
whatever sort of requirements we set
we can use those sorts of tools to kind
of allow us to better
um or more efficiently rather kind of
obtain those applicants
uh so onboarding whenever you bring a
new employee on so like if
i had a position and i hired someone the
onboarding process would be me kind of
getting them
going through things like company
orientation maybe basic job training
maybe like some sort of company
information where i kind of tell them
this is what our company is this is our
history basically just that kind of
training period for a couple weeks okay
thank you
no problem so hopefully i got a little
bit ahead of myself there
uh so let's kind of wrap things up today
we talked about social computing we
talked about some of the ways that firms
may use it we talked about some ways
individuals may use it
we talked about various shopping things
as well as marketing uses for it
any questions
well i've got a couple questions for you
all um so i've already got about
five people who've gotten extra credit
today but that leaves some
additional people so i'd like to hear
from you all how should firms use social
computing
well um obviously they should use it in
terms of
specifically business purposes
and professional purposes and to
somehow make it personable to the market
which they are attributed to but at the
same time to
handle it like a company and to
use it as a method of
trying to connect to customers and to
the management and kind of make it more
globalized in a sense
okay certainly i was also going to say
like with that like
like he said you can get closer to your
customers but you can also
promote like their brands and stuff
because like
i mean it's like enhancement um customer
relationship
because it allows like a business to
follow public opinion about it
its brand and respond quickly to
customers
issues or something they want to fix
okay
and uh candace said by making sure their
customers are aware of the things the
company has to offer
any other thoughts on this
yeah it's just probably in this day and
age one of the best ways they can
promote anything new or even older
things that people might have forgotten
about
yeah so maybe the company has you know
some sort of product service that no
one's buying
um that could certainly be something
that you know they could maybe remind
people about they can maybe see what
people are saying there's lots of
different ways they could be used
uh sydney says uses customer service and
outreach
yeah great answers any other thoughts on
this
all right and here's my last question
for the day can you think of a disaster
that occurred with poor social media
management
this is an open-ended question right
here
i think the coronavirus was a disaster
that uh poorest
social media management occurred because
everyone made it out to be a joke
um well on my facebook page anyway in
the beginning
okay so having you know sorts of
unsubstantiated information
um
any other thoughts on this
any sorts of uh funny disasters any
sorts of in a devastating disaster is
anything like that
i i think some of the the most
i wouldn't say the most damaging but
certainly it's pretty damaging if a
company puts out
inaccurate information on their social
media page maybe they get their hours
wrong people show up and they're not
open that makes them upset
um you know they mention a sale that's
not actually
you know their legitimate sale
any sort of information is inaccurate
and doesn't have to be intentionally
inaccurate just any sort of that
information
can be pretty upsetting to people so
any other questions thoughts concerns
here
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