The importance of social networks for the SME’s innovation potential in Industry 4.0

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F04274644%3A_____%2F20%3A%230000653" target="_blank" >RIV/04274644:_____/20:#0000653 - isvavai.cz</a>

Result on the web

<a href="https://businessperspectives.org/journals/innovative-marketing/issue-358/the-importance-of-social-networks-for-the-sme-s-innovation-potential-in-industry-4-0" target="_blank" >https://businessperspectives.org/journals/innovative-marketing/issue-358/the-importance-of-social-networks-for-the-sme-s-innovation-potential-in-industry-4-0</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.21511/im.16(3).2020.05" target="_blank" >10.21511/im.16(3).2020.05</a>

Result language

angličtina

Original language name

The importance of social networks for the SME’s innovation potential in Industry 4.0

Original language description

Social networks usage is prerequisite for the functioning of companies and their competitiveness. Important is the level, focus of their usage and link with company process. This research will focus on SMEs, how they use social networks and how it affects their innovation potential. The aim of this research is to determine the importance of social networks for SME´s competitiveness and long-term stability. For achieving this goal, 359 European SMEs were researched (2017-2019), 2 main research questions and 7 hypotheses were formed. Pearson´s correlation, Stepwise regression were used and the reached results were verified by experimental testing. The research results showed that companies, which are using social media, main as a component of their business are active at using modern technologies and are declaring the importance of social networks for the development of innovation potential. Fastness and reliability of communication are crucial for business operations in the company. Social networks offer many opportunities and connections between strategic planning, controlling management and performance level. All SMEs mostly use Facebook, and this does not depend on size, age or industry. The research results lead to the understanding, that social networks together with controlling oriented management are supporting SME business activities and their innovation potential and long-term stability in hyper-competitive environment.

Czech name

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Czech description

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Type

J_SC - Article in a specialist periodical, which is included in the SCOPUS database

CEP classification

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OECD FORD branch

50204 - Business and management

Project

—

Continuities

S - Specificky vyzkum na vysokych skolach

Publication year

2020

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical

Innovative Marketing

ISSN

1814-2427

e-ISSN

1816-6326

Volume of the periodical

16

Issue of the periodical within the volume

3

Country of publishing house

UA - UKRAINE

Number of pages

14

Pages from-to

48-61

UT code for WoS article

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EID of the result in the Scopus database

2-s2.0-85091828575