The purpose of Assessment 3 is to understand the concept of ‘analysis’ and how to learn to analyse information efficiently and effectively.
According to Rosenwaser and Stephen (2009, p. 4), analysis is:
More than just a set of skills, analysis is a frame of mind, an attitude
toward experience. It is a form of detective work that typically
pursues something puzzling, something you are seeking to
understand rather than something you are already sure you have
the answers to. Analysis finds questions where there seemed not
to be any, and it makes connections that might not have been
evident at first.
Companies around the globe are embracing and adapting social media for many different reasons, including: customer service, marketing, internal communications, public relations, and corporate social responsibility. It is now a reality that social media is changing the way stakeholders and companies communicate daily, providing opportunities for collaboration, participation, interactivity, and engagement.
Your task is to analyse a business case study that chronicles the management of a social media strategy by First National Bank (FNB), one of South Africa’s ‘Big Four’ banks.
A business case study ‘is a description of an actual situation, commonly involving a decision, a challenge, an opportunity, a problem or an issue faced by a person (or persons) in an organization’ (Erskine, J.A. and Leenders, M.R., Learning with Cases, © 1997, Richard Ivey School of Business). Cases contain relevant data about the issue available to the key person in the case, plus background information about the organisation.
Please follow these guidelines to complete the assessment:
1. Carefully read the Ivey Business School case: ‘Banking on Social Media’. Note: you will need to go onto the Ivey Business School website https://www.iveycases.com/ and purchase a copy of this case (Product Number: 9B14A070) (approximately $AUD5.00).
2. Read the case several times and answer the following questions in your analysis:
· How has First National Bank (FNB) used digital and social media to engage with its customers?
· What benefits does FNB obtain from investing in a social media strategy?
· What lessons can FNB learn about developing and implementing a social media strategy?
· Identify important factors for an organisation to consider when using social media to communicate with customers and improve their experience. Use 3-5 secondary sources to support your analysis.
3. You are encouraged to write a first draft of this memo at least one week prior to the due date to ensure adequate time for revision. Please be aware that the writing quality and appropriate referencing will be marked as well as the content.
4. Submit Assessment 3 to Turnitin via the Blackboard site no later than the due date: Monday 9th October, 9.00AM (QLD time).
5. Refer to the Marking Guide located under on the Blackboard.
The weighting for Assessment 3 is (25%).
PRIOS/CDT brief for Assessment 3:
a. Purpose: Analyse the management of a social media strategy.
b. Reader: Lana Strydon, Head Digital Marketing and Media, FNB.
c. Information: Based on primary and secondary sources.
d. Organisation: Direct order approach.
e. Style: Formal. Be sure to proofread carefully to ensure that there are no sentence-level errors such as spelling mistakes, wrong word choice, incorrect punctuation, etc.
f. Channel choice: written document.
g. Document design: memo format.
h. Length: 1000 words.
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