Social media -based value creation and business models
Research output: Contribution to journal › Review Article › Scientific › peer-review
Details
Original language | English |
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Pages (from-to) | 1820-1838 |
Journal | Industrial Management and Data Systems |
Volume | 116 |
Issue number | 8 |
DOIs | |
Publication status | Published - 2016 |
Publication type | A2 Review article in a scientific journal |
Abstract
Purpose - The purpose of this paper is to create an organized picture of the current understanding of social media-based value creation and business models. Design/methodology/approach - Following the process model presented by Fink (2005), a systematic literature review of academic journal articles published between 2005 and 2014 was conducted. The research was grounded on the theoretical foundations of service-dominant logic. Findings - This study offers detailed descriptions and analyses of the major social media mechanisms affecting how value is created in social media-based value networks and the kinds of impact social media can have on present and future business models. Research limitations/implications - The study is limited to academic research literature on business organizations, excluding all studies related to public and non-profit organizations. Practical implications - Attention is given to developing an in-depth understanding of the functions and concrete value creation mechanisms of social media-based co-creation within the different organizational processes (e.g. in product and service development and customer services) and to updating the related practices and knowledge. Originality/value - This study provides new insight into the challenges related to research models and frameworks commonly used for observing value creation, thus highlighting the need for further studies and updates.
ASJC Scopus subject areas
Keywords
- social media, business model, value creation, value co-creation
Publication forum classification
Field of science, Statistics Finland
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