Social Media
The objective of this study is to identify one of the major social media outlets and discuss the four components of a legally astute social media marketing manager who utilizes social media outlets for consumer transactions and how each component can mitigate the risk involved in doing business in cyberspace. This work in writing will additionally list and analyze methods of alternative dispute resolution and determine which would be most effective in resolving genuine disputes that arise with consumers who may make purchases from businesses that provide links via social media. This study will additionally make a determination of how the federal government can best control these transactions since consumer transactions on social media can occur across state lines. This work will go on to examine the three branches of government and discuss which can effectuate the most significant impact on regulating consumer transactions via social media outlets. Finally, the agency relationship that exists on social media sites between the social media providers and businesses that utilize the site for advertising will be explained.
Introduction
Social media is defined as "media for social interaction, using highly accessible and scalable publishing techniques. Social media use web-based technologies to turn communication into interactive dialogue." (Navetta, 2011, p.1) Social media is further stated to be "like a wide-ranging conversation that can be with the entire world, or on a very intimate level with a single individual, and often both." (Navetta, 2011, p.1)
I. Identification of Social Media Outlet
The Social Media outlet identified in this study is that of Facebook. Facebook is described as the largest social media website and is reported to have "more than 900 million users." (Mashable, 2013, p.1) Facebook was founded in 2004 by Mark Zuckerberg, an undergraduate at Harvard University.
II. Four Components of a Legally Astute Media Marketing Manager Who Utilizes Social Media Outlets for Consumer Transactions and How Each Component Can Mitigate the Risk Involved in Doing Business in Cyberspace
According to the work of David Navetta (2011) entitled "The Legal Implications of Social Networking: The Basics" social media makes provision of a "…mechanism for finding communities of like-minded (or not) individuals interested in particular topics (and sub-topics)." (p.1) Navetta (2011) reports that InfoLawGroup makes use of social media "to engage in conversation concerning issues that are important and interesting to us (and others), and by engaging in that conversation in a meaningful way, others begin to recognize and value our input (and we in turn discover experts, influencers, and valuable information resources)." (p.1) Navetta states that upon the bases of experience the primary attributes of a social network that is successful are the following: (1) clear communication; (2) multiparty interaction; (3) trust; and (4) intimacy. (2011, p.1) The work of Bagley (2008) reports that legal astuteness, which is required by today's managers who promote their products or services via Social Media websites, includes: (1) a set of value-laden attitudes; (2) a proactive approach; (3) the ability to exercise informed judgment; and (4) context-specific knowledge on the relevant law and the appropriate application of legal tools. (p.379) Law is reported to "establish the rules of the game for managers striving to create value and to capture some or all of it for the firm." (Bagley, 2008, p.379) Law is reported as well to enforce "the social consensus on moral values" and to additionally "affect the development of moral expectations." Bagley, 2008, p.379) In addition, law is stated to assist in the determination of the roles that managers play, why managers play those roles and if they have played the roles well. (Bagley, 2008, p.379) Legally astute managers are reported to "appreciate the importance of meeting society's expectations of appropriate behavior." Bagley, 2008, p.379) It is reported that management teams that are legally astute use the law and the legal system to "increase both the total value created and the share of that value captured by the firm in at least four ways." (Bagley, 2008, p. 383) Those four ways are stated as follows: (1) they use formal contracts as complements to relational...
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