Corporate Strategy And The Social Networking Phenomena

Abstract

The Social Networking (SN) phenomena has developed relatively overnight and is continuing to develop at an exponential pace. It allows for innovative new methods of disseminating and collecting information in ways never before dreamed possible by corporate executives. The rise of Social Networking is becoming a disruptive technology for traditional marketing and advertising medium such as radio, television, web page, and print media, creating new business opportunities for the entrepreneur within organizations of any size, and allowing lucrative treasure troves of corporate intelligence about how the customers feel about ones or a competitors products or services. It means new executive leadership skills are now needed to take advantage of these new tools and developing corporate strategies. Those that do this well will be the winners in the market five years from now.