A Value added of the Social media

What is it about?

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.

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Why is it important?

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.