Abstract
In the past few years, social media’s popularity has increased exponentially. Its fundamental uses were for entertainment, but as it evolved, it became a greater part of everyone’s lives; including businesses. This analysis takes a look at the impact of social media and networking on small and medium enterprises (SMEs). First the characteristics of businesses adopting social media will be analyzed to see what factors promote its adoption. These aspects are grouped into the three main categories of organizational, manager, and environmental. Then, the impact of social media adding value to a company through branding will be looked at. This is accomplished using five different components that, when combined, give a prime representation of employer attractiveness. Finally, this review will examine the effects that social media has on a business’s success. One study investigates small companies in the western region of Maine, which is considered underserved by tourism and economic development. The findings from these company’s improvements can provide insight for future studies; while also showing other small and medium businesses the real impact of social media.
Faculty Sponsors
Charlie Harrington
Project Type
Event
Location
Alvin Sherman Library
Start Date
4-8-2016 1:00 PM
End Date
4-8-2016 5:30 PM
The Impact of Social Media on Small and Medium Businesses
Alvin Sherman Library
In the past few years, social media’s popularity has increased exponentially. Its fundamental uses were for entertainment, but as it evolved, it became a greater part of everyone’s lives; including businesses. This analysis takes a look at the impact of social media and networking on small and medium enterprises (SMEs). First the characteristics of businesses adopting social media will be analyzed to see what factors promote its adoption. These aspects are grouped into the three main categories of organizational, manager, and environmental. Then, the impact of social media adding value to a company through branding will be looked at. This is accomplished using five different components that, when combined, give a prime representation of employer attractiveness. Finally, this review will examine the effects that social media has on a business’s success. One study investigates small companies in the western region of Maine, which is considered underserved by tourism and economic development. The findings from these company’s improvements can provide insight for future studies; while also showing other small and medium businesses the real impact of social media.
