Question

What is the role of social media on economics essay?

Answer 1

This paper presents the significance of the new and innovative economy to organizational development, adopting to the business environmental changes and managing.

Design/methodology/approach -The paper analysis the factors that increase the role of social media (SM) and their influence to changes in the value added in the organization.

Findings - The paper contributes to the discussion about the importance of social media by enabling the access to the knowledge and the

Research limitations/implications - The concept is based on a theoretical view of the innovative new economy, knowledge management and the impact of social media on value creation.

Practical implications - out that the Originality/value - SM leads to the fact that we are not talking about knowledge management, but about enabling access to knowledge. SM influence on the formation of chain supply and consequently to the value added in the enterprises in innovative economy.

Keywords innovative economy, knowledge management, networking, organizational changes, social media, value added chain

Paper type Research paper

Answer 2

Social media provides tons of information about its users which includes their tastes and preferences for a product.

Social media reaches millions of customers who use mobiles and smartphones for chatting and messaging.

It provides an excellent platform for young entrepreneurs to showcase their talent and get connected with potential customers.

A well designed social media page adds to the brand image of a product or a business firm.