Business Research Project Part 1: Business Problem and Research Question
Business Research Project Part 1: Business Problem and Research Question
Background
Company X is an internet-based social networking program that is owned and operated by a multi-national technology company specializing in Internet-related services and products. Company X was very proficient with its growth in the initial years of rolling out, however usage statistics have varied due to the service it provides. Launched in 2011, Company X was the first social network to feature the ability of post photos and status updates on their online based communities. These streaming features allows subscribers to group friends and family into different relationship circles and allows instant messaging, video and text chat through their “Hangout” application. Another great feature is the capability tagging your location so that your followers can see your whereabouts and being able to upload photos to your own private cloud-based albums.
Business problem
Company X has been unable to compete with its social media counterparts and this has become the topic of great debate. Some say that there is no competition because they are considered to be on different platforms however, there are similarities to the offerings of each as Company X has both a social network component and a business network component. In light of this situation, Company X does not seem to recognize a need to make improvements to the networking aspects of the site. It seems that this issue is indication of weaknesses that lie within the company as it continuously fails to be addressed. Speculation suggests that this problem directly relates to the exit of high profile executives from the company.