This website uses cookies to ensure you have the best experience. Learn more

Social Media Essay

1219 words - 5 pages

Managers play a major role within any company. Not only must they understand the business of the company, but they must also possess legal astuteness. According to Bagley,
Legal astuteness is the ability of a manager to communicate effectively with counsel and to work together to solve complex problems. For example, legally astute managers can (1) negotiate contracts as complements to trust building and other relational governance techniques to define and strengthen relationships and reduce transactions costs, (2) protect and enhance the realizable value of the firm’s resources, (3) create options through contracts and other legal tools, and (4) convert regulatory constraints into opportunities. Legal astuteness has four components: a set of value-laden attitudes about the importance of law to the firm’s success, a proactive approach to legal issues and regulation, the ability to exercise informed judgment when managing the legal aspects of business, and context-specific knowledge of the law and appropriate use of legal tools (Bagley, 2013, p.11).
With each component, social media marketing manager who utilizes social media outlets, such as Facebook, for consumer transactions, mitigate the risk doing business through cyberspace.
Having a set of value-laden attitude is essential when doing business in the cyberspace. Managers must consider the success of the business. The laws and regulations are guidelines to help managers determine the risks and opportunity while doing business through cyberspace by ensuring that the business is legal. Managers act proactively seeking out legal advice about the business that is in compliance with laws and regulations. Using managerial judgment is also key when managing the legal aspect of a social media outlet. At times, managers may have to take legal action in regards to the business. If a company is being sued by someone, the manager can make an informed whether to continue the lawsuit in court or deal with the issue within the company. Lastly, legal astute managers can utilize legal tools for increasing realizable value while managing risks. They should:
Evaluate the opportunity and define value proposition (is the ideas protected), assemble an appropriate team (choose appropriate form of business entity and issue equity to founders early), raise capital (sell stock in exempt transaction), develop, produce, market, and sell products or service, and harvest (negotiate and document arrangements with underwriter or investment banker) (Bagley, 2013, p.11).
With any business, various issues will arise with consumers who may make purchases from businesses that provide links via social media. Many may think the only way of resolving these issues is through court, but there are other alternative methods for resolving disputes. Two alterative solutions are arbitration, mediation, and negotiation. Arbitration allows a third party to look at the evidence of the case and imposes a decision in which one or both...

Find Another Essay On Social media

Social Media Essay

833 words - 4 pages Social media wields ubiquitous influence over the marketplace, driving and defining how businesses engage with customers in unprecedented proximity. Naturally, B2C enterprises have swiftly woven social media into their business strategies. But their B2B counterparts are more restrained, using it as merely another conduit for public relations and marketing communications. B2B enterprises also employ social media to promote professional

Social Media Essay

2066 words - 9 pages Social media has become a popular tool for both criminals and law enforcement. There are a lot of different perspectives about how social media is instrumental to crime and solving crimes. On one hand, law enforcement can use social media websites such as Facebook and Twitter to find evidence about specific crimes. On the other hand, digital villains can use social media to break the law. This could include crimes as small as illegally

Social Media

1175 words - 5 pages When someone talks about media, many people might only think about journalist, reporter, or people who have careers directly relate to media. However, that is not true. The rapid advancement of technology also allows everyone to access information and express their own opinions easier. In other words, everyone who uses media is considered as both publisher and consumer. The consumption of social media has grown dramatically over the past few

Social Media - 1272 words

1272 words - 6 pages by social media. Names like Facebook, Instagram, and Twitter are the socio-economic leaders of modern times, helping to leading the charge of change. As a result, social media as a whole is a beneficial tool for human communication and collaboration. In the 21st century, distance is no longer a limitation of communication with family or friends. Social media can turn a thousand miles into a single click. In fact, today “the lines are clearly

Social media

3475 words - 14 pages 23 Lib rary Tech n o lo g y R ep o rts alatechsource.org A u g u st/Sep tem b er 2012 Running the Digital Branch: Guidelines for Operating the Library Website David Lee King Chapter 6 Abstract Chapter 6 of Library Technology Reports (vol. 48, no. 6) "Running the Digital Branch: Guidelines for Operating the Library Website" by David Lee King discusses the use of social media to support the digital branch, including reasons to use social media to

Social Media - 1093 words

1093 words - 4 pages distance of thousands of miles does not matter. This is amazing. It is very useful especially for parents with children studying abroad as they can save the cost of long distance calls. However, we are facing some issues when using social media.From my experience, the most common issue that people might face when using social media is privacy issue. People may get all sorts of confidential information from us via the social networks. They can track

Social media

1093 words - 4 pages distance of thousands of miles does not matter. This is amazing. It is very useful especially for parents with children studying abroad as they can save the cost of long distance calls. However, we are facing some issues when using social media.From my experience, the most common issue that people might face when using social media is privacy issue. People may get all sorts of confidential information from us via the social networks. They can track

Social Media - 1336 words

1336 words - 6 pages A critical SWOT analysis of Netflix’s social media techniques clearly shows they are ahead of the game and not backing down from rising competitors like YouTube which is gaining viewers by increasing the amount of online content. Insert mandate & overview Netflix.Com/social-media-disclosure.cfm For B2B Investor relations, Netflix uses Youtube and has a link on their social media disclosure site. For their B2C Netflix has a general community

social media

1189 words - 5 pages vocation pages. Researches show that corporate recruiters today are less trusting of Facebook as a recruiting implement, largely because Facebook recruiting implements are less mature and generally provided by more minute companies. LinkedIn’s recruiting implements are smoothly integrated, marketed and sold exceedingly well, and very potent. Social Media: Unlike traditional media which offers a one way experience (in which media outlets broadcast

Social Media - 2111 words

2111 words - 9 pages . Facebook recently purchased WhatsApp for $17 billion to venture into this area. Works Cited • http://www.merriam-webster.com/ • http://en.wikipedia.org/wiki/Social_media • http://visual.ly/social-media-market-share-2013 • http://www.ebizmba.com/articles/social-networking-websites • http://en.wikipedia.org/wiki/Twitter • https://blog.twitter.com/2013/vine-a-new-way-to-share-video • http://bits.blogs.nytimes.com/2014/03/20/twitter-rolls-out

media literacy in social media

1580 words - 7 pages Look back: the Arab Spring What is so called “digital media literacy” or “new media literacy”? Apart form the debate in literature, I am now going to explore the term in a real example. When it comes to big event related to social media recently, we can not avoid talking about the Arab Spring. I will first look at the general view from different perspectives, and then dig into media literacy from two aspects, one from the activists, one from

Similar Essays

Social Media Essay

940 words - 4 pages Social media sites have taken over almost everyone’s house; almost everyone has an account in one of social media sites or at least knows what social media sites are. Rouse and Wigmore (2012) pointed out that “Social media is the collective of online communications channels dedicated to community-based input, interaction, content-sharing and collaboration.” So basically, social media sits are free sites that anyone can sing up for in order to

Social Media Essay 1845 Words

1845 words - 8 pages There are about one and a half billion users of social media worldwide. It can be used to meet new people, find old friends, chat the day away, join interest groups, or even to share pictures. Social networks were mostly created so people could meet and find new friends. What most users of social media don't know, are the dangers of using social media. One example is when you meet a person online, because they are not always who they

Social Media Essay 1750 Words

1750 words - 7 pages Communication has always been an important factor for humans. From the early ages of life, people have always been searching for easier ways to communicate with one another. As new social media networks are introduced, communication is becoming more accessible and convenient. People are fascinated with the fact of sharing ideas, opinions, and staying connected with such an availability. But with so much influence of social media in our daily

Social Media Essay

1224 words - 5 pages transformation of traditional marketing, and it’s no other than social media that we all learned to love. It’s quite fascinating that in the early 2000’s social media wasn’t even invented; yet statistics show that Facebook has accumulated users surpassing the entire population of the United States. The acceleration of growth and progress in social media just gives us a glimpse of its maximum potential on how it will revolutionize and transform marketing