Social Networks Discussion Questions

Online social networks have become ubiquitous in the past few years. What forms of value do users get from these services and who is most likely to sign up on LinkedIn versus other sites?

In the past 5-10 years, Internet has enabled a communication revolution. Most importantly, it has changed the way we work, connect with people and even the way we live. Social networking has become a fundamental part of the global online experience. Social networking is not just growing rapidly; it's evolving both in terms of a broader audience and compelling new functionality to meet the competition and the increasing needs and expectations of an average user. Examples of few famous online social networks are Face book, Friendster, MySpace, LinkedIn.

Value –
1) Social Networking focuses on building online communities of people. People share interests and activities and connect with other people around the globe.
2) Provides different ways to interact with people such as instant messaging, emails, exchange photos, share blogs and stories.
3) Allows people to find friends who are located in different parts of the world. Most importantly, builds a bridge so that friends can reconnect.
4) Allows individuals to promote their own businesses and sometimes helps with raising initial investments from venture capitalists.

LinkedIn – LinkedIn is an interconnected business oriented social networking site mainly used for professional networking. The purpose of the site is to allow registered users to maintain a list of contact details of people they know and trust in business. (http://en.wikipedia.org/wiki/LinkedIn)

Although the social networking tools offers the above value and benefits, the following individuals are most likely to sign up on LinkedIn versus other sites:
Ø Business Professionals who want to be connected with other experts around the globe.
Ø Recruiters, Hiring managers and Head Hunters
Ø Job Seekers
Ø Executives and Senior Officers
Ø Individuals who own or would like to own a small business like to sign up so they can get connected with venture capitalists.