This refers to social networks and online communities that serve as platforms for the mutual exchange of opinions, impressions and experiences.
Social media are gaining importance through social interactions and cooperation. They support the human desire for social interactions using technology and transform media monologues (one to many) into social-media dialogues (many to many). This promotes the democratization of knowledge and information. The user is evolving from a consumer to a producer. Users create their own content together (user generated content). There is no longer a gap between sender and recipient. Text, images, audio and video are used as means of communication in social media.
Advantages of social media:
Relatively low barriers to entry, large reach, easily accessible tools, low costs, uncomplicated operation, highly up-to-date, changes possible at any time, publication and distribution of content of all kinds, can be used by both companies and private individuals. Common examples of social networks: Facebook, Twitter, XING or the VZ networks. A fundamental aspect of social media is not filtering contributions. The trend today is to allow individual contributions from employees and all stakeholders in order to convey a diverse picture of the company.

See also: Communication; Marketing; Transparency

Reference to QET criteria: Q07 Human resources management; T02 CI; T03 Corporate transparency; T11 Marketing; T12 Communication

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