CURRENT THEMES IN BUSINESS (BBUS601)
How Companies Can Gain Competitive Advantage by Using Social Media
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Executive summary
The use of social media has gained momentum as the numbers of those using social media increases by day. Businesses are as well following this trend with many of them incorporating social media in their marketing and other activities to exploit the benefits of social media. Indeed, with increased competition, shrinking markets and rocky financial times, businesses seek to use social media to gain some form of competitive advantages. However, as noted by Stockdale, Ahmed & Scheepers, (2011) trend chasing and unplanned adoption of social media will not improve the profitability of an organisation, what is required is strategic social media implementation, whereby the social media activities are aligned to the organisation?s business objectives and the targeted demographics.
