The impact of social media to value added in knowledge-based industries

• Published in: Kybernetes Vol. 42; no. 4; pp. 554 - 568
• Main Authors: Roblek, Vasja, Peji Bach, Mirjana, Meško, Maja, Bertoncelj, Andrej
• Format: Journal Article
• Language: English
• Published: London Emerald Group Publishing Limited 01.01.2013
• Subjects: Business; Digital media; Economics; Information technology; Knowledge base; Knowledge management; Organizational change; Product development; Social networks; Strategy; Studies; Web 2.0; Value added chain; Networking; Social media; Organizational change; Knowledge management; Innovative economy
• ISSN: 0368-492X; 1758-7883
• DOI: 10.1108/K-01-2013-0014

Purpose - The purpose of this paper is to investigate the significance of Web 2.0 and social media for organizational development and adaptation to an ever-changing business environment and its successful managing. A model is proposed based on the concepts of innovative economy, knowledge management and social media for value creation in knowledge-based industries.Design methodology approach - The paper examines critical factors that influence the role of social media in organizational change and value creation in knowledge-based industries.Findings - The paper contributes to discussion about the increasingly important role of social media in the value added chain in knowledge-based industries.Research limitations implications - Social media are still an emerging phenomenon and further studies are required to investigate these relationships over a longer period of time.Practical implications - The topic is relevant for designing corporate strategies in knowledge-based companies becoming a part of global networks. Better understanding of the impact of social media on value added could significantly enhance both the top and bottom lines.Originality value - The paper explores when and why the inexpensive, but increasingly wider, use of social media in knowledge-based industries is preferred to traditional media. This paper intends to give executives practical hands-on advice for using social media in business campaigns.