Social media technologies, such as Facebook, Twitter, Yahoo! Answers, and Yelp, allow users to share information, ideas, interests or other forms of expression. In particular, more and more firms have started using online user innovation communities in order to innovate their business. In these communities, users feel free to comment and post their ideas about a certain product or service. Users also can vote for new ideas posted by others. Then, the firms will crowdsource a large number of user-generated ideas and potential and applicable ideas from these communities will be selected to improve the products, services and processes (Dong & Wu, 2015, p114). However, only selected pertinent ideas will contribute to their innovation development and increase their business value. This technology significantly supports ...
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...ocial media technologies or social networking services like YouTube, Facebook, Twitter, LinkedIn, or Myspace has increased exponentially. Thus, many firms make use of these media sites to improve and develop their business. The strongest benefit social media technology brings to business organizations is being a useful tool of global communication between employees, employees and their employer, employees and their customers. It also increases the productivity and profit of the business when being an effective marketing strategy as well as innovation communities for users to generate ideas. Though there are still some disadvantages, social media technologies still surpass the traditional marketing strategies like T.V, radio, newspapers, and magazines. As a global market system, social media technology is substantially contributing to the expansion of global markets.
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