The Impact of Social Media Networking (SMN) towards business environment in Sri Lanka

Abstract

“Social Media Networking (SMN)” is one of most popular web concepts mainly used for interaction and entertainment purposes. Today world leading business organizations apply SMN for business activities as a value added service. Purpose of the research project is to identify SMN trends which are popular among Sri Lankan business environment and to identify benefits those organizations gain from it. Also to evaluate the value of using SMN Trends in Sri Lankan business environment and to encourage conservative Sri Lankan businesses to use SMN trends as value added services. This is an exploratory study which leads to pattern identification, a model development and hypothesizes formulation. Thus, data gathered from three samples; Purely, Partially and None SMN Based Organizations using stratified random sampling technique. For data analysis cross tabulation, chi square test, frequency and descriptive statistical techniques were used. Results conclude organizations' SMN Usage Pattern is directly effecting to its Business success. Higher percentage of successful businesses is Partially SMN Based Organizations which use SMN as a supporting service. Research results illustrates there is 10% of SMN Impact to the total Revenue Impact factors and 25% of SMN Impact to SMN Using Activities in Partially SMN Based Organizations.