Managerial accounting Week first Dq question PDF

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Bayer Material Science and the Carlos Baker Shop are the two companies addressed in the given case study. The two organizations are shown that their social business strategies, known especially as internal social networks, are flourishing and profitable. In addition to the comparison, Bayer Material...

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he use of social media has become a commonplace part of everyday life on the internet. Social networking is the practice of connecting with family, friends, and people who share your interests using social media websites and apps such as Facebook, Instagram, and Twitter (Imbert et al., 2019). Although social networking is popular among young people all over the world, not everyone is aware of what it entails. While for business purposes, social media is used by corporations to increase brand awareness and create client loyalty or trust, it is also used by individuals (Kenton & Mansa, 2021). Furthermore, digital marketing and social media allow individuals and businesses to interact while also increasing brand awareness. It is also referred to as an essential component of any business plan because it allows us to engage with customers, raise brand awareness, and increase leads and sales. According to the research article, using an internal social network can assist businesses or organizations become more efficient. These findings have also been corroborated by digital advertising and business executives who have dealt with similar situations. Furthermore, this week's discussion topic is linked to the internal social network in our book's case study "Social Business: Full Speed Ahead or Proceed with Caution?" This instance is about two remarkable firms, Carlos Bakery and Bayer Material Sciences, who won after implementing an internal social media network effectively in their business ventures. According to the case, Bayer Material Science has joined or incorporated IBM (International Business Machines) as a tool for operating its social business. In general, IBM is a tool that is used to lead in the conception, development, and manufacture of modern information systems, as well as to increase or strengthen collaboration, harmony, and coordination through the usage of various corporate social networks. IBM aided the company in creating blogs, sharing proposals, collaborating on designs, and so on in the instance at hand. IBM's incorporation assisted the company's efficiency, worldwide alliances, communication, operational expenditures, and other areas to run smoothly. As a result, IBM's deployment in this company was successful, as per the question. Furthermore, when it comes to the following company, Carlos Bakery, I discovered that this company has joined or included a CRM (Customer Relationship Management) application for conducting and upsurging its sales social networking. The bakery shop's use of such a tool brings together workers who provide products and services, cook, decorate cakes, and many other aspects of the business, resulting in higher worker productivity. The CRM tool employed by this baking store is widely recognized as a technology that reduces human errors by replacing manual labor, which has a high risk of human error. The bakery shop's CRM tool is undeniably authentic, persistent, and relationship-building, facilitating contact among firm employees and assisting in the speedy turn-around of orders into deliveries. Regardless of whether the chief decorator is absent for some enticing reasons, the chief still participates in the discourse about the cake's construction, and when the chief returns, he is allowed to explore modifications in the cake's size, design, color, and many other aspects. According to the instance, staff had some difficulty getting used to CRM once it was implemented, but it was later discovered that over 30% of errors were reduced, and the rate of output increased significantly (Kiron. D, 2012). For my second response, I believe that every firm should embrace internal social networks since it enhances the aspects of effective communication, aptitude, competence, and productivity in a company in a very short amount of time. The establishment of an internal social network improves the formation and maintenance of strong social relationships as well as healthy communication with other groups outside of the company. It also aids in the development of a passionate individual as well as relationships between firm employees through improved communication and relationships. Internal social networking, on the other hand, aids in lowering the expenses of company endeavors and operations because it is more costeffective, efficient, and easier to use than other systems. The internal social network system also allows upper-level management to communicate and collaborate with employees at the center and lower levels of the business, resulting in increased efficiency and clarity. (Singh & Kaur, 2012). In light of all of these considerations, I feel that establishing or utilizing internal social networks is beneficial to businesses. Furthermore, using such systems improves the security, protection, and reliability of the company because they are capable of containing or blocking dangerous conduct from any vulnerable source. In conclusion, it may be concluded that the primary motivation for increased use of internal social networks is that it enables an organization to realize its full potential in terms of sustaining and fulfilling administrative goals across various corporate branches. The deployment or incorporation of an internal

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social network by two separate companies was determined to be beneficial and fruitful in the given scenario as well.

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