Navigating the Social Media Storm Networks Globally

Worldwide, more than 1.5 billion people use social media. 70% of companies use social technologies. 77% of Fortune 500 companies have an active Twitter account, 70% have an active Facebook page, and 69% use YouTube. About 81% of the ink. 500 companies have an active page on LinkedIn, 67% have an active page on Facebook and 67% have an active account on Twitter. Companies do not use social media and social technologies to socialize; Instead, they use them to expand their business and add value to businesses and customers. Ninety percent of companies using social technologies say they realize the benefits of a business.

What is social media? In a 2013 article in the MIT Sloan Management Review, Gerald C. Kane, associate professor at the Carroll School of Management at Boston College, wrote, “When most people are asked to define social media, they are probably addicted to something. Looks like Judge Potter. . of Stewart’s High Court. obscenity definition: “I know when I see”. Unfortunately, this approach to defining social media maintains stereotypes and does not accurately reflect what social media is and how it can be used by businesses. So what is social media? Social media is defined by the Oxford English Dictionary as: “Websites and applications that allow users to create and share content or participate in social networks”. II These sites and applications include Twitter, Facebook, Linked In, and Google+. Social media is part of a larger structure called social technology. The McKinsey Global Institute defines social technologies as: “IT products and services that enable the formation and functioning of online communities, where participants can access the content and disseminate the rights to create, add, and/or distribute the content. Yammer, Jive, Moxie, and industrial supply chain networks such as Descartes, GT Nexus, Elemica, E2open, LeanLogistics, and One Network IV Business intelligence and network-based analytics are also part of social technologies Clara Shih, CEO and Founder Hearsay Social and Lisa Shalett, General Manager and Head of Brand Marketing and Digital Strategy at Goldman Sachs, point out that social media offers a range of new features, including new and innovative ways for businesses and customers to do what they always do: build relationships, information exchange, read and write comments and tap into trusted networks of friends and experts Technologies provide bed is the tools to manage their status, social networks, and established relationships, all factors that determine a company’s performance. vii Social media and social networks also enable companies to better manage, take risks, establish their reputation, innovate and improve business intelligence.

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