The Social Media Revolution. Strategies and Attitudes towards the Rise of an Enabling Technology
AbstractThis paper investigates how companies are facing the social media revolution en course. Web 2.0 technology has forced firms to reconsider their business models and strategies. As well as it happened in the first digital revolution led by Web 1.0 technology, the advent of the second digital revolution led by Web 2.0 has created new opportunities and threats that firms need to cope with. Internet has had an impact on both business models and firms’ practices, since it has created a new market space, changed the role of the customers and modified marketing strategies. Based on both theory as well as empirical cases, the study shows that strong similarities exists between the two digital revolutions. Old economic and managerial models are still valid while companies can either take a passive approach or they can try to adapt, but only outliers are leading the transformations and are redefining business models and practices in their industries.
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Bibliographic InfoPaper provided by Scuola Superiore Sant'Anna of Pisa, Istituto di Management in its series Working Papers with number 201302.
Date of creation: 01 Feb 2013
Date of revision:
Social media; Web 2.0; business model; strategy;
Find related papers by JEL classification:
- O30 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-03-16 (All new papers)
- NEP-ICT-2013-03-16 (Information & Communication Technologies)
- NEP-MKT-2013-03-16 (Marketing)
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