In today’s world where on-line business transaction is a norm, Social Media Outlets are sprouting just about every now and then to cater to the demands of the consumer public as well as to provide the means for different businesses to advertise and promote their respective services into the frontlines. Facebook, by far, is presently one of the leading Social Media platforms1 used by businesses to reach-out to consumers and possible business partners. With this growing trend, the conduct of business has greatly evolved from physically exchanging goods and services where the buyer and seller meet-up face-to-face, into the hassle-free on-line transaction and trading. Although these new means has brought about new challenges and risks in the conduct of business, marketing managers still adhere to the basics of running and promoting their respective businesses. These four (4) components are the foundation and guiding principles of a legally astute marketing manager in weighing day to day decisions in today’s modern world.
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The first component is having a set of value-laden attitudes on the importance of the law to the firm’s success. Recognizing the importance of the law serves as the foundation in making all the decisions in every corporation. With this follows the observance of a set of corporate standards and attitudes that is anchored on the legality of each action. At the end of the day, it is not the question of how much you have made for the success of the company, but it is on how you did it. The businesses’ reputation is always at stake most specially when promoting products and services online and this requires a great amount of trust and confidence between the company and the buyer/consumer. Observing the legal aspects in every decision and transaction will greatly build-up the company towards positive growth.
Role of a legally astute manager. Different solutions and outcomes are studied well in advance to avoid situations that will put the company at risk in the future. This is done through consultation with business strategist and legal advisors to help determine the efficient andeffective ways of dealing business and avoiding possible hindrances. These consultations will also provide the manager important and critical information on the legal aspects of running the business.
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Having these information will lead to the next component of a legally astute manager which is by having the ability toexercise informed judgment when managing the legal aspects of business. A well-informed manager always makes the best decision and will shoulder the responsibility and the outcome of the company’s decisions. Although managers rely most of the time from their legal advisers in dealing with unexpected hindrances, it is but important for the legally astute manager to have a grasp of understanding the legal aspects of the situation at hand in order to come up with a sound decision.
Disputes could highly occur in any online business transaction that is why a legally astute social media marketing manager should be always ready with alternative dispute resolutions. Negotiation is one of these alternative dispute resolutions wherein an agreement is made between the consumer and the service provider on any business venture they both might have agreed upon.
These negotiations could be forward-looking or also known as transactional negotiations wherein both parties agreed upon the terms of their relationship and iron out the details of their transaction before they will initiate the deal (Bagley, C. 2013). On the other hand, a negotiation could be backward-looking also known as dispute negotiations wherein parties represented by the consumer and the service provider are already engaged in business go back to a negotiating table to resolve an unexpected issue that transpired after a deal was made and has
caused a situation that might affect the successful completion of the business transaction. The critical role of the social media marketing manager on this kind of alternative dispute resolution is to see to it that a set of agreements has been laid-out between the consumer and the service providers before, during and after they both go into a business transaction that utilizes the social media. Mediation is another method of alternative dispute resolution wherein both parties, the consumer and the service provider, has reached to a point and agreed for a neutral third party, known as the mediator, to mutually resolve an issue that transpired in their transaction. Mediators cannot dictate a solution to a problem, it is the disputing parties involved in a mediation process that should find a resolution to their dispute and agree to abide by it themselves. Mediation provides a fast, simple and inexpensive agreeable solution for parties involved who are willing to settle a dispute and to maintain the business relationship.
Arbitration on the other hand is another type of alternative dispute resolution whereby the parties involved in a dispute agreed to seek the aid of a neutral third party, an arbitrator, to find a resolution for them. In arbitration, the disputing parties should abide to the arbitrator’s decision. Among the three alternative dispute resolutions, the most effective in resolving genuine disputes that arise with consumers who may make purchases from businesses that provide links via social media is the Mediation wherein the social media platform acts as the mediator.
A good example is when you buy a product online and it turned out to be something different from what you purchased. You can simply return the item back or have it replaced with the right item through a structured process already laid out and designed by the mediator to fix such disputes. Because business transactions made via the cyberspace are sometimes done between entities coming from different nations and/or states, the federal government can best control the transactions on social media under the implementation of the Commerce Clause. The
Commerce Clause is a federal authority that gives Congress the power to regulate all activities that will transpire in the social media market. This power to regulate these activities and transactions involves promulgation of laws that will serve as policies and guidelines for both the consumer public and the service providers in order for them to have a business environment conducive of growth and trust.
The three branches of the government have varying significant impacts on the overall transactions conducted via the social media. The Judiciary Branch of the government has the jurisdiction in all cases involving the consumers and service providers whether these transactions may be between entities represented by the state, people within the state and people from foreign nations.
The Executive Branch of the government refers to the executive powers of the president and the executive departments and agencies that enforce the laws of the land. This branch is responsible for the execution of orders issued by the Judiciary Branch as well as the implementation of laws and regulations created by the Legislative Branch.
On the other hand, the Legislative Branch of the government consists of the House and the Senate, collectively known as the Congress. It is the legislative branch that makes all laws that will govern the land. It is also the Congress that decides and declares war, regulates interstate and foreign commerce and controls fiscal policies. The Legislative Branch has the power that can effectuate the most significant impact on regulating e-commerce and other business transactions via the social media market because the Commerce Clause gives Congress the power to regulate commerce with other nations and between states.See More on Business