My Site

My Site

Sunday 19 October 2014

New Perspective in Viewing Social Media to Social Business


Social networks have totally changed the way in which men and women communicate and share information. Today, one out of every 20 online visits is to a social networking website. Social networking is also a great way to build your business and social connections through the use of other peoples’ connections besides your own. Twitter is a great example of this. If you tweet something someone likes, they will retweet it to all their followers. Your message just went to many people than the ones you know. Your business profile page or online business profile should have up to date information about your business on it.

Social Media


The facebook.com was originally supposed to be just a social network, but what wound up happening over the course of its history surprised even the man who would be the face of the company. There is no denying that Mark Zuckerberg’s creation has had a significant impact upon how work is done, the way we communicate and our society. For most people Facebook has simply been a social network, a place where we can post photo, share the trials and tribulation of our lives, and play games with one another, but there’s a deeper meaning behind it all. There is rapid progression of Facebook’s evolution from a simple social network to a platform that has become extensively integrated not only with the world, but our lives.    


The social networking sites especially facebook and twitter, if used properly can help you to develop a loyal client base for your business. If you are more of a video person, then YouTube can propel your business to the next level. LinkedIn is a great place to meet other professionals and connect with them.  

Blogging

Writing a blog is a powerful way to promote your business expertise and create top level visibility on the web. It’s a proven business market strategy. If you have a ‘subscribe’ page then Individuals who subscribe are providing you with the ‘OK’ to contact them professionally via e-mail. Blog writing is definitely a significant approach to create brand awareness. Blogs are excellent ways for you to connect with your potential client or customer both on an informal and personal level.



Based on that new revolution in social media, social networking has come to be the new medium for large companies to connect with their customers and potential customers using sites like facebook, twitter and ‘what’s app’ to attract more clients and interact with their coworkers. Thus, social networking might have started off as being an entertaining way to interact with friends, however it has developed into a highly effective resource for education and business.

 When the businesses realized the important in using social media, they have actually built not only products, but their business around the notion of being social within the enterprise, and it’s helping increase usage and growth.

Based on that purpose, the businesses need special systems especially social media to support collaboration and team work. Employees may collaborate in informal groups that are not a formal part of the business firm’s organizational structure or they may be organized into formal teams. It means that, this collaboration focus on task or mission that want to accomplish by the group members. Collaboration and teamwork are more important today than ever for a variety of reasons such as :-

  • Changing nature of works.
  • Growth of professional work.
  • Changing organization of the firm.
  • Changing scope of the firm.
  • Emphasis on innovation.
  • Changing culture of work and business

Many firms today enhance collaboration by embracing social business by using social networking platforms such as facebook, twitter, what’s app and internal corporate social tools to engage their employees, customers and suppliers.



These tools enable workers to set up profiles, form groups and ‘follow’ each other’s status updates. The goal of social business is to deepen interactions with groups inside and outside the firm to expedite and enhance information sharing, innovation and decision making.

A key word in social business is ‘conversations’. Customers, suppliers, employees, managers and even oversight agencies continually have conversations about firms, often without the knowledge of the firm or its key actors (employees and managers).

All of this requires a great deal of information transparency. People need to share opinions and facts with others quite directly, without intervention from executives or others. Employees get to know directly what customers and other employees think; suppliers will learn very directly the opinions of supply chain partners; and ever managers presumably will learn more directly from their employees how well they are going. Nearly everyone involved in the creation of value will know much more about everyone else.  






Security System of Automated Teller Machines ATM)


Technological advances in the 21st century have brought much improvement into our lives but it has also unleashed new types of criminals who are able to tap into the weaknesses of our increasingly cyber wired world.


Most of the banking system are going forward for the paperless and less manpower concept in providing banking services to their customers.

Thus, they are using more machines in their businesses ; less time consume, more efficient and much economic. With the ATM they could improve their customer's service and increased their profit.

Security system of the automated teller machines (ATM) have been provided by the vendor of the said system and being updated along the time passed by ; as to ensure that the said ATM are always relevant with the technological advances which are growing rapidly.

Increasingly, more people are turning to automated and online transactions as these offer more flexibility and convenience. However, lately these ATM Systems have been treated by the cyber criminals. We have all heard  of online personal and social media accounts being hacked.




The most common method was for hackers to obtain personal bank account details of ATM users to access their accounts. Such as gathering the accountees information via fixing the devices at the ATM slot. Whenever the accountee done their transaction at the said particular ATM all the information will be captured into that devices. Based on the said information ; they will create a clone card. They will do the withdrawal from other ATM via MEPs systems.

However, recently the hackers have come out with new level of cyber crime. ATM hackers have found a way to override the operating system of the ATM machine itself, thereby allowing the hacker to empty the machine of its available cash stored inside it. News of this new breed of cyber criminals started emerging at the beginning of this year spreading through Eastern Europe to France, US, India, China and most recently, Malaysia. By late September 2014, news of ATM hackings started emerging all over Malaysia with the criminals succeeding in withdrawing over RM3 million in just less than a week. 

They used a type of computer malware known as ‘ulssm,exe’  to hack into the ATM by inserting a compact disc that contained a ‘backdoor.padpin’ trojan horse that would allow the hackers to gain control of the ATM system after it reboots.

What is malware?
It is malicious software programs such as computer viruses, worms and Trojan horses.

  • Virus             : Is a rogue software program that attaches itself to other software programs or data files in order to be executed, usually without user knowledge or permission. 
  • Worms        : Independent software programs that propagate themselves to disrupt the operation of computer networks or destroy data and other programs.
  • Trojan horses : A software program that appear legitimate but contains a second hidden function that may cause damage.


In order to overcome this problem, the bank should scrutinize respective security systems and move to more sophisticated ones in line with current technology. Banks need to change the system or security code every other year to deter criminals or in other words the most important is that security must continuously be maintained.


Furthermore, banks are encouraging customers to use faster and easier systems such as ATMs and Internet banking but banks should ensure that the systems are in safe condition with less risks. There is no compromise when it comes with the bank security as it is not only affects the confidence of consumers but also to the nation's competitive edge. Banks institutions are important institutions to project a positive image of the country to attract tourists and foreign investors. 





The Phenomena of Digital Media vs Traditional Media in Advertising


Technology and the people can’t be a part, it shouldn’t be much of a surprise that the greatest challenge facing traditional media is technology. Nearly every media outlet, from print to broadcast, has been affected by the rise in digital media. Newspapers are slowly dying, hard copies of albums are becoming relics of the past and DVDs are slowly being replaced with streaming movie services. E-book readers now allow consumers to carry thousands of books, newspapers and magazines in a single device.

Is it true, that digital media affecting advertising revenue of traditional print media?


Let the figures speak for themselves by referring to Aegis Global Advertising Expenditure Report May 2013.

Digital ad spend is growing 25% Year on Year in Malaysia




By looking at the chart above, Digital ad spend enjoys the biggest growth among all the media, with 25% Year-on-Year growth from 2012 to 2013.


This is followed closely by Outdoor ad spend with 24.8% Year-on-Year growth (yes, as you can see nowadays there are more glaring e-buntings on the main roads).


It is an effort to go green and beautify Kuala Lumpur, the conventional bunting that mar the city’s look have been replaced with the new e-bunting.

However if you refer to the table below, not all media (including Outdoor) are enjoying consistent yearly growth like Digital, which maintains in the range of 20-30% Year-on-Year growth including the forecast for this year 2014.


No doubt, Newspaper and Magazine advertising expenditure are not growing fast since 2011~2012. Are advertisers putting their ad money online as claimed by the by Star Publications?


Profit and loss statement of Star Publication Annual Report 2013 shows that the company’s profit after text has decreased by RM61,326,000 during 2012 to 2013. It is bad performance recorded by the Star Publication Group in five years (2009-2013). However we can’t state that this bad performance of the Star Publication come from the revolution of digital media in the market only, but there must be influences by another factors from internal and external factors of the company. It is supported by the Porter’s Competitive Forces Model that state that in order to become a leader in some industry it is important to study the general view of the firm, its competitors and the firm’s environment.

In this model, five competitive forces shape the fate of the firm.


In Porter’s competitive forces model, the strategic position of the firm and its strategies are determined not only by competition with its traditional direct competitors but also by four forces in the industry’s environment: new market entrants, substitute products, customers and suppliers.

So, based on this Porter’s Model we believe that the revolution in digital media might not be the only reason even though digital is growing fast and consistent.
Moreover, it is supported by the pie chart below.


Big chunk of ad spend still go to TV and Newspaper in Malaysia

Based on this pie chart, traditional media advertising still on demand in the market, 41.9% of total ad spend in 2013 still go to Newspapers, and together with Television both capture close to a whopping 90% of total market ad spend.

Digital in contrast commands only 1.5% advertising expenditure share, even behind Radio (4.9%), Outdoor (1.9%), and just slightly more than Magazines (1.4%).
However, the company should realize that the technology always moving forward. Even the result in Malaysia state that the traditional media advertising still in demand in the market but the company must ready to moving forward to the digital media advertising in order to be competitive and relevant in the market field.



Tremendous Synergy Between Enterprise and e-commerce


In order to build and maintain an enterprise or a business is not an easy way. The company must have their own study or research about the market field, new systems offered, cost incurred, the ability and capability of the company toward that new strategy.
E-commerce is part of e-business, that deal with the buying and selling of goods and services over the internet. It also encompasses activities supporting those market transactions such as advertising, marketing, customer support, security, delivery and payment.

This is the record of the progress of e-commerce in Malaysia.




By referring to the milestones chart above, e-commerce seems to be only started to blossom in Malaysia since year 2011. It is also the year in which more foreign e-commerce related companies started venturing into local market.
1998
The incorporation of Lelong, arguably the biggest local e-commerce company to date.
With a mission statement of "Serving the community and bringing a high standard of quality into homes and businesses by providing an avenue for on-line trading at a low cost", continually strive to improve and develop its functionality without levying high costs.

2001
The launch of AirAsia online ticketing site, many start buying budget air tickets online. At that time in Malaysia buying online tiket are not very popular, however nowadays in 2014 buying online ticket is a phenomena and some of AirAsia copetitor follow same strategy. 

2004
eBay launches service in Malaysia - ebay.com.my.

2005
Mobile88 launches iPay88, Malaysia's no.1 online payment provider to date.

2009
Lelong launches its B2C shopping mall - Superbuy.
PayPal starts supporting Ringgit Malaysia and withdrawal to local banks.

2011
Groupon enters Malaysia by acquiring Groupsmore.
Gmarket enters Malaysia, quietly launching a local site.
PayPal officially opens global operations center in Malaysia.


2012
Rocket Internet launches its Zappos-wannabe fashion site in Malaysia - Zalora.
Gmarket Malaysia is being officially rebranded to Qoo10.com.my.
Rocket Internet launches its Amazon clone in Malaysia - Lazada.

2013
Tesco online shopping launched, with next day delivery and COD.
This service allows customers to order a wide range of products from the comfort at home, and delivered directly to your door at a time to suit you.Offer with low prices like in store and many promotions so that the major benefits of shopping in Tesco are available to everyone with an access to the Internet. 







Maybank launches Maybank2u Pay targetting blogshops. Maybank launches Maybank2u Pay, another first by a bank in Malaysia. Maybank2u.Pay is a payment gateway to facilitate purchases at blog shops, offering not only fast and safe transactions, but also a convenient and reliable online shopping experience.

Mobile messaging apps: Groupon, Zalora on KakaoTalk, Rakuten on LINE.
Lazada launches Marketplace business in Malaysia.
PayPal increases fee, and extends Seller Protection to APAC.



As a conclusion, e-commerce business become more important in the future because of their unique features such as ubiquity, global reach, universal standards, richness of complex information, interactivity for two way communication and personalization of interest.



Wednesday 1 October 2014