Social Media or Social Business Networks?
Social media has incurred changes that can be seen in developing new customer centric strategies, objectives, and goals, to realigning operations to meet the constantly changing and highly sensitive demands of customers, among others. The increase in value of social media channels is more than just a luxury gateway; rather those channels have become quintessential venues of communication between the customer and the organization. The purpose of this paper is to analyze the effect of social media on the business environment with particular emphasis on how it impacts both the customer and the organization. This will be accomplished through focusing on several facets such as social media and globalization, social media vs. traditional media, bridging the gap between the customer and the organization, and how social media empowers the customer. The paper presents some recommendations and precautions pertinent to the utilization of social nets into the core business processes.
KeywordsSocial media Viral marketing Business networks Online reputation systems
- 3.Mohammad, Y.A.: Integration of social media in businesses. Int. J. Bus. Soc. Sci. 5(8) (2014)Google Scholar
- 4.Rodriguez, M., Ajjan, H., Peterson, R.M.: CRM/Social media technology: Impact on customer orientation process and organizational sales performance. J. Mark. Dev. Competitiveness 8(1), 85–97 (2014)Google Scholar
- 5.Logofatu, M.C.: The social media impact on small and medium sized businesses. Young Econ. J./Rev. Tinerilor Econ. 9(18), 214–218 (2012)Google Scholar
- 9.Chau, M., Xu, J.: Business intelligence in blogs: understanding consumer interactions and communities. MIS Q. 36(4), 1189–1216 (2012)Google Scholar
- 10.Goi, C.: The impacts of social media on the local commercial banks in Malaysia. J. Internet Bank. Commer. 19(1), 1–10 (2014)Google Scholar
- 11.Harrysson, M., Metayer, E., Sarrazin, H.: How ‘social intelligence’ can guide decisions. Mckinsey Q. 4, 81–89 (2012)Google Scholar
- 12.Oh, O., Agrawal, M., Rao, H.: Community intelligence and social media services: a rumor theoretic analysis of tweets during social crises. MIS Q. 37(2), 407–426 (2013)Google Scholar
- 14.Recine, M., Prichard, J., Chaudhury, A.: Social media and evolving marketing communication using IT. Commun. Assoc. Inf. Syst. 33, 115–128 (2013)Google Scholar
- 16.Bronstein, J., Aharony, N.: Personal and political elements of the use of social networking sites. Inf. Res. 20(1) (2015)Google Scholar
- 18.Cabot, J.E.: The information age; Manuel Castells; the rise of the network society. Res. Policy 32(1141), 57–68 (2003)Google Scholar
- 19.Chauhan, S.: Factors affecting use of mobile social networking. Vilakshan, XIMB J. Manag. 11(1), 41 (2014)Google Scholar