Reference no: EM132770962

Social networks offer companies an inexpensive, yet highly effective means of reaching their target audiences across the globe. In fact, social networks are rewriting the rules for marketing. Consumers today can quickly and easily get information about products and services from trusted friends via social media and bypass more traditional methods of gathering information. Companies must identify ways to adapt to, and capitalize on, this new marketing reality.

Social media also impacts diplomacy. Various high-profile people have spearheaded social causes via Twitter, thus aiding the efforts of governments to influence other nations. Such globalization through social networks, which extends to businesses, brings the populations of the world closer together and accelerates integration.

What is the impact of social media on international business and its implications for both consumers and companies. Consider the pace of globalization as it pertains to social media and the pros and cons of the process.