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Social Business Models

Author

Listed:
  • Maria Cristina ENACHE

    () (Dunarea de Jos University of Galati, Romania)

  • Corina SBUGHEA

    () (Dunarea de Jos University of Galati, Romania)

Abstract

A Social Business embraces networks of people to create business value. A Social Business connects people to expertise. It enable individuals – whether customers, partners or employees – to form networks to generate new sources of innovation, foster creativity, and establish greater reach and exposure to new business opportunities. It establishes a foundational level of trust across these business networks and, thus, a willingness to openly share information. It empowers these networks with the collaborative, gaming and analytical tools needed for members to engage each other and creatively solve business challenges. A Social business strives to remove unnecessary boundaries between experts inside the company and experts in the marketplace. It embraces the tools and leadership models that support capturing knowledge and insight from many sources, allowing it to quickly sense changes in customer mood, employee sentiment or process efficiencies. It utilizes analytics and social connections inside and outside the company to solve business problems and capture new business opportunities. A Social Business leverages these social networks to speed up business, gaining real time insight to make quicker and better decisions. It gets information to customers and partners in new ways -- faster. Supported by ubiquitous access on mobile devices and new ways of connecting and working together in the Cloud and on open platforms, a Social Business turns time and location from constraints into advantages. Business is free to occur when and where it delivers the greatest value, allowing the organization to adapt quickly to the changing marketplace. We believe the most effective approach to enabling a Social Business centers around helping people discover expertise, develop social networks and capitalize on relationships.

Suggested Citation

  • Maria Cristina ENACHE & Corina SBUGHEA, 2015. "Social Business Models," Economics and Applied Informatics, "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration, issue 2, pages 11-16.
  • Handle: RePEc:ddj:fseeai:y:2015:i:2:p:11-16
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    References listed on IDEAS

    as
    1. Jacques Defourny & Marthe Nyssens, 2010. "Conceptions of Social Enterprise and Social Entrepreneurship in Europe and the United States: Convergences and Divergences," Journal of Social Entrepreneurship, Taylor & Francis Journals, vol. 1(1), pages 32-53, March.
    2. Vaghely, Ivan P. & Julien, Pierre-André, 2010. "Are opportunities recognized or constructed?: An information perspective on entrepreneurial opportunity identification," Journal of Business Venturing, Elsevier, vol. 25(1), pages 73-86, January.
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    Keywords

    Social Business; IT; Marketing; Social media; Models;

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