BIS 3233 - Chapter 9: Social Computing

Summary

This 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

00:00

📅 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.

05:01

😷 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.

10:02

💻 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.

15:04

📚 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.

20:04

🛍️ 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.

25:05

🏪 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.

30:05

📝 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.

35:06

🤝 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.

Keywords

💡Social Computing

Social computing refers to the use of social media and other online tools by businesses and individuals for various purposes, including marketing, customer service, and collaboration. In the video, it is discussed in the context of how businesses can leverage social computing to engage with customers, manage their brand image, and facilitate communication. Examples include the use of hashtags, blogs, and wikis to aid in information retrieval and sharing.

💡Group Assignment

A group assignment is a task given to students that requires collaboration and teamwork to complete. In the script, the instructor reminds students that their group assignment discussion is due, emphasizing its importance and the fact that it contributes to their final grade. It is an example of how academic institutions use social computing tools like email and online platforms to manage and assess student work.

💡Canvas

Canvas is a learning management system (LMS) used by educational institutions to manage courses, assignments, and grades. The script mentions Canvas as the platform where students can submit their group assignment and where the instructor manages grades. It highlights the role of such systems in facilitating academic tasks and communication between students and instructors.

💡Network Effect

The network effect is an economic concept where the value of a product or service increases with the number of users. In the video, the instructor discusses how the network effect makes it difficult for new social networks to compete with established ones because as a social network gains users, it becomes more valuable and attractive to new users, creating a barrier to entry for new competitors.

💡Enterprise Social Network

An enterprise social network is a platform designed for businesses to facilitate internal communication and collaboration among employees. The script differentiates enterprise social networks, which are public-facing, from corporate social networks, which are private and used exclusively within a company. Examples given include LinkedIn and internal documentation tools like wikis.

💡Social Commerce

Social commerce is the use of social media platforms to facilitate online transactions and the exchange of goods and services. The video discusses how social commerce reduces barriers to entry and allows businesses to engage in cost-effective marketing and sales strategies. It also touches on the potential for increased competition and rivalry among businesses in the market.

💡Collaborative Consumption

Collaborative consumption is a business model where individuals share access to goods and services, often facilitated by technology platforms. In the script, examples like Uber and Airbnb are given to illustrate how these companies operate by allowing users to exchange the use of assets like cars or homes for payment, rather than owning the assets themselves.

💡Digital Dossier

A digital dossier refers to the collection of personal data and information that is publicly available online. The video mentions digital dossiers in the context of how social media platforms can use the information they have about users to target advertising and marketing efforts. This concept highlights the importance of privacy and data management in the digital age.

💡Sentiment Analysis

Sentiment analysis is the process of using natural language processing to identify and extract subjective information from text, often to determine public opinion or customer sentiment towards a brand or product. The script discusses how businesses can use sentiment analysis on social media posts to gauge customer reactions and adjust their marketing strategies accordingly.

💡Human Resources

Human resources (HR) refers to the functions within an organization that manage relationships between employers and employees. In the video, HR is discussed in relation to social computing, highlighting how companies can use social media and online tools for recruitment, onboarding, employee development, and job searching. This demonstrates the integration of technology in HR practices.

💡Social Media Management

Social media management involves the monitoring and administration of a company's social media presence to engage with customers, promote products, and maintain a positive brand image. The script touches on the importance of accurate and timely information dissemination on social media, cautioning against the potential disasters that can occur due to poor management, such as spreading misinformation or inaccurate promotional details.

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

facebook

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