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Social Media: An Enabler in Developing Business Models for Enterprises
Abstract
Rapid changes are taking place in global business scenario. It has become a necessity for enterprises to adapt to these changes. Social media facilitates business enterprises to make use of the opportunities in the global market. Social media has become an important source of information for the stakeholders of business enterprises. Structured, semi-structured, and unstructured data from social media provide a good scope for developing business models for enterprises. This chapter mainly talks about developing the conceptual business models in the sectors such as automobiles, textiles and software developing companies. Further, this chapter explains making use of the concepts such as virtual reality, multimedia and cloud computing with the data from social media in developing conceptual business models.
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