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Essay from the year 2010 in the subject Business economics - Information Management, grade: A, James Cook University, language: English, abstract: Social media and social networking has grown exponentially in the recent years. They have influenced many sectors of the world. Business is one of the affected sectors. Organizations have taken to recent adaptations of mostly online social networks to promote and grow their business. In this report, we present the impacts those social networks have on businesses in general. Four most popular social networks, namely Facebook, Twitter, MySpace and YouTube are taken into depth for their impact on business operations.