How social media gives you competitive advantage

Abstract

The world over, it is being recognized that the Gen-Y of the workforce is different from the earlier generation of workers. The younger employees are more technology savvy and carry over their expectations of the social media world to their work places. However, the best way to organize and benefit from this trend is still evolving and we are learning as we go along. On the one hand, there are a lot of expectations and on the other hand, there are many examples of failed social media initiatives. There is a lack of structured frameworks and vast majority of executives have no idea of how to analyze social media. In this article, we will explore how to systematically analyze social media in the context of Competitive Advantage as proposed by Porter in his 1985 work6. This will provide a basis to develop a framework with which to analyze and implement social media.