Social media -based value creation and business models

Sanna Ketonen-Oksi, Jari J. Jussila, Hannu Kärkkäinen

    Research output: Contribution to journalReview Articlepeer-review

    26 Citations (Scopus)
    1757 Downloads (Pure)

    Abstract

    Purpose - The purpose of this paper is to create an organized picture of the current understanding of social media-based value creation and business models. Design/methodology/approach - Following the process model presented by Fink (2005), a systematic literature review of academic journal articles published between 2005 and 2014 was conducted. The research was grounded on the theoretical foundations of service-dominant logic. Findings - This study offers detailed descriptions and analyses of the major social media mechanisms affecting how value is created in social media-based value networks and the kinds of impact social media can have on present and future business models. Research limitations/implications - The study is limited to academic research literature on business organizations, excluding all studies related to public and non-profit organizations. Practical implications - Attention is given to developing an in-depth understanding of the functions and concrete value creation mechanisms of social media-based co-creation within the different organizational processes (e.g. in product and service development and customer services) and to updating the related practices and knowledge. Originality/value - This study provides new insight into the challenges related to research models and frameworks commonly used for observing value creation, thus highlighting the need for further studies and updates.
    Original languageEnglish
    Pages (from-to)1820-1838
    JournalIndustrial Management and Data Systems
    Volume116
    Issue number8
    DOIs
    Publication statusPublished - 2016
    Publication typeA2 Review article in a scientific journal

    Keywords

    • social media
    • business model
    • value creation
    • value co-creation

    Publication forum classification

    • Publication forum level 1

    ASJC Scopus subject areas

    • Management of Technology and Innovation
    • Information Systems

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