I’m working on a Management question and need guidance to help me study.
Scenario: Magenta Multimedia has decided to incorporate social technology into its business to maintain its competitive advantage. It would like to use technologies that allow it to engage with customers, and that also allow employees to communicate with peers. The company’s current customer demographic is older, but management would like to expand the appeal of the company and its products to millennials (while not ignoring its current customer base). The company was impacted by the recent economic downturn, but is now growing again and is seeing positive financial results. Despite this, senior management is extremely budget-conscious and sensitive to incurring new expenses.
Be sure to support your statements with logic and argument, citing all sources referenced. Post your initial response early, and check back often to continue the discussion. Be sure to respond to your peers’ posts as well.