INTRODUCTION
The media trend that is on the tip of everyone's tongue these days: Social Media. It is the hot topic that has people, organizations and businesses divided on its suitability in their marketing plan. Some businesses are being built by using social media. It has given way to the media darlings who built an immediate territory by having a lump of friends on Facebook, tweeting until their thumbs wore blisters and blogging until their eyes fell out.
But what is Social Media?
Social media is a new practice of networking that permits any individual to become a source of information via new technologies that do not need any preceding experience. Social media permits the audience to be the authors and vice versa. Not only does it allow the audience to become involved, it is an essential part of the involvement. Social media booms on social exchanges from the audience, i.e. - commenting on someone's Facebook status or blog posting, tweeting a disproof to someone's tweet or rating a YouTube video. The whole experience is broad and this is exactly why the medium has caught fire. Anyone can do it and do it for essentially free, as long as they have an internet connection and computer.
Popular sites include Facebook, YouTube. Twitter, LinkedIn and many others. These sites all permit users to post information that can then be commented on, followed or possessed by bigger social individuals and peers. Many businesses are exploiting on its use to target market demographic sets or to break through to new possible customers. There are major companies who have Facebook pages and are adding facebookers as friends in a determination to invite new customers and form brand loyalty. There are restaurants that are tweeting out every day specials and/or vouchers to their followers. Marketing companies are planning entire ad movements that revolve around posting commercials on YouTube that are proposed to look like they were not created with a seven figure budget. These are just a few of the ways that companies are benefiting on social media and developing their business and customer base.
The big variation between social media and outmoded publicity (Yellow Pages, radio, and direct mailings) is there is no communication between you and a possible patient with outmoded advertising.

2.0 What are some of the Most Popular Sites?
Facebook: The most popular of social networking sites is undeniably Facebook, this site permits consumers to sign up and add friends and social groups, display information and photos and become fans of countless stuffs. It started as a virtual yearbook for Harvard students and has developed into a world-wide virtual yearbook that consents users all kinds of methods to connect and be in contact with other users within its framework.
Twitter: Twitter is a free social networking and microblogging service that allows its users to post and read messages known as tweets. Tweets are text-based displays of up to 140 letterings shown on the user’s profile page and sent to the user's subscribers who are known as followers. Senders can limit delivery to those in their group of friends or, by default, consent open access.
YouTube: A video sharing website that consents users to upload and post their own videos. It also lets viewers to appraise and comment on posted videos.
RSS Feeds: Real simple syndication. These feeds let individuals to follow new posts to blogs and websites without actually loading the site and they notify users when new content is uploaded to sites. They can receive RSS feeds from several sites to their e-mail account.
LinkedIn: Introduced a news service for users of its expert network as part of an effort to expand the website's use as it nears an original public offering. The service, called LinkedIn Today, gives the users a view of the Internet news stories that are being shared within their private networks, within their businesses and by the wide swath of other professionals on the site. And also to offer tools to categorize and extract related information that users willingly enter about their professional lives, both for job hunting and for performing their existing jobs. Those tools include a planning service that shows users the links between their online connections visually and highlights the people who are the most important connectors.

3.0 Knowledge Sharing
Knowledge is one of the most essential intangible resources owned by human beings. Unlike the economist's restricted resources like land, capital and labour, knowledge is an endless resource that can create increasing returns through its organized use and application. In the twenty-first century, knowledge is being deliberated to be the primary creation resource instead of capital and labour and handling knowledge resources is the main focus of modern organizations.
Davenport and Prusak have perceived knowledge from information, and information from data, on the source of value-adding procedures, which transform gathered facts and figures into communicable message and then into knowledge and wisdom. Knowledge is defined as "fluid-mix of framed experience, values, contextual information and expert insights that provide a framework for evaluating and incorporating new experiences and information. It originates and is applied in the minds of the knower. In organizations, it often becomes embedded not only in documents or repositories but also in organizational routines, processes, practices, and norms" (Gray, 1989).
This definition brings out two important characteristics:
(1)] Knowledge is highly contextualized information enhanced with individual understanding and proficiency.
(2)] Knowledge is highly person specific and earned through experience, interpretation, instinct and learning.
New knowledge is made when one's knowledge is joined with the knowledge of others. So, successful knowledge sharing improves individual learning.
"Knowledge sharing is a set of behaviours that involves the exchange of information or provision of assistance to others" (Jashapara and Prasarnphanich, 2004).

4.0 Build Social Capital
Social capital goes to those who update early, often and with excellence-and repeat this process over and over.
Social capital is seen to be an essential aspect of relations, and a key characteristic of networks is social capital which individuals are supposed to possess. Anderson and Jack (2002) point out that social capital was initially defined as a interactive resource of personal bonds which individuals use for progress. It is seen to contain features such as social interaction, social ties, trusting relationships and value systems, facilitating action in a specific social context. It is perceived as a capital that occurs in the arrangement of interactions between and among actors but which takes time and determination to produce, and therefore has an opportunity cost
It is considered as the value generated through and within social networks the relationships individuals have with others, within and beyond the firm, and collectively the social capital of people represents the social capital of organizations. So, social capital is an important aspect of networks but its production relies on a set of norms, networks and organisations through which people gain access to power and resources that enable decision making and policy formulation. It is therefore an characteristic of social networks that enables synchronisation and teamwork for mutual benefit.
5.0 Support Innovation
Innovation is versatile. An organization can innovate in their culture, systems, procedures or people, but there is one thing that puts great innovators separately from the rest. Innovative organizations step beyond the big concepts to the big arrangements; it takes bravery and strength to make these innovative steps, but the organizations that can control that spirit tend to become the best.
Service as the centrepiece
The best organizations see technology as a step for service delivery. The use of technology is appealing and on-trend, but unless it enriches the customer experience, it can become little more than a trend or-worse-a distraction.
The influence of innovations on economic performance is highly undefined. For example, it may take ten to 12 years on average for the return on an investing in new projects to equal that of established businesses, or seven to 15 years from thorough invention to financial success.
6.0 Aid Problem Solving
Today, project managers face ever more difficult dynamic projects exiting less room for inaccuracy and requiring more highly effective problem-solving approaches be used.
The common interpretation of "problem" is not that it is a recognizable bad thing and that all practices of organization experience them and must resolve them so they can sustain or return to, normal organizational life. There is no such thing as a problem or a resolution, nor is there such a situation as normal organizational life.
7.0 Application of Social Media into Small Business networks (SMEs)
Often, SME business holders do not have entry to information and resources needed to successfully run the business. As Huse (1990) notes, industry owners are often so busy, they do not identify their need for management aid. Thus, the service and strategic roles of the board become mainly appropriate for SMEs, with outside directors instilling formal procedures which make managers more mindful of the reputation of organizing and decision-making. In addition, while large businesses with distributed rights may have several governance procedures in place for observing management, SMEs are generally maintained and managed by a small, close-knit group of entities, often family members. Outside directors, therefore, provide an added resource of discipline and management control.
While the benefits of direction from strong outside board members are apparent, whether the SME can attract qualified outsiders is uncertain. They surmised that seeking status, extending networks, the opportunity to use their competence to influence, and the ability to learn or gain other benefits are possible explanations.
There are pros and cons of using social media nowadays. It sometimes depends on individual’s technical skills in using the ever growing technology.
Take for an example of a Small and Medium Enterprise in Singapore – Sun City Maintenance Pte Ltd:
This is one of the companies in Singapore which provides cleaning and maintenance Island wide. They did not use much of social media, but they have a system will make one life easier, which is the Mobile Time Card System. Whereby the employees do not need to manually punch in or out for their attendance on a time card, but on a mobile instead. This means this company had used a modernised technology which not many are using.
Before this system kicks off, each employee needs to go through some kind of training in order to know how to operate this technology. This will in turn be a sharing of knowledge between the trainers and the employees. When knowledge is shared, socialising will be there. Innovation will then increase.