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- W4387008751 abstract "Intense competition, unpredictability, and volatility are just some of the hallmarks of the current market scenario. The advent of COVID-19 is a prime example of the “perfect storm”, representing the sudden and unexpected environmental changes a firm can face. It has propelled digitalization into the spotlight for organizational change, warranting the implementation and integration of specific external resources of open innovations such as social media. This adaptive course of action is taken so that firms can continue to operate functionally but safely; amid movement restrictions, stringent Standard Operating Procedures, and Work From Home working arrangements. Especially for Small and Medium Enterprises (SMEs), social media is a cost-effective and easy-to-use open innovation resource with a multitude of potential benefits if and when utilized properly and effectively. While knowledge on the subject matter is still evolving, information regarding social media’s direct and indirect relationship with firm performance remains an important and pertinent opportunity for onward investigation. The assertion of Malaysia’s own Ministry of Finance (MOF) emphasizes this point, as it considers digitalization a means to make SMEs more resilient and competitive, a mitigating measure to address the issue related to SME mortality. This chapter describes the association of social media and firm performance operating under challenging circumstances; and certain elements that can facilitate or impede the decision to adopt social media. The conceptual framework positions social media adoption as an intermediary construct to examine deployment factors and synthesize their effects on firm performance. Based on the literature review, two factors have been identified and are singled out as antecedents: compatibility and security concern. The Resource-Based View is the theory premise for this research, where social media is slated as an essential resource to elevate competitive advantage. The discussions and conclusion presented in this chapter are intended to offer an updated perspective from an academic and real-world practice standpoint." @default.
- W4387008751 created "2023-09-26" @default.
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- W4387008751 date "2023-01-01" @default.
- W4387008751 modified "2023-09-26" @default.
- W4387008751 title "Social Media as an Open Innovation: Deciphering Its Relationship with Firm Performance, Compatibility, and Security Concern" @default.
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- W4387008751 doi "https://doi.org/10.1007/978-981-99-5142-0_6" @default.
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