A Multilayered Approach to Estimate Business Performance

TL;DR

This paper explores integrating Web 2.0 social networking tools into business models to enhance sustainability, discussing benefits, risks, and strategic implementation for improved business performance.

Contribution

It presents a multilayered approach to incorporating social networking platforms into business operations, highlighting new strategies for leveraging Web 2.0 tools for performance enhancement.

Findings

Social networking tools can improve business sustainability.

Incorporating social media involves assessing benefits and risks.

Guidelines for selecting appropriate social platforms are provided.

Abstract

The performance of a business is chiefly determined by the business model adopted and its environment of operation. This paper emphasizes on the integration of Web 2.0 services like social networking to your existing business, which helps in the progressive sustainability of the business organization. The usage of Web 2.0 tools, such as Wikipedia, blogs and social networking services such as Facebook, LinkedIn, Orkut by individuals in all societies, has been pervasive and very successful in proliferating their use at the professional or business levels. This paper puts forth the discussion which helps in better understanding of what social networking encompasses for present day business. It also aims to educate business decision makers about the benefits and risks associated in incorporating business model with social networking. Thus, the paper focuses on the implementation of social networking platforms in business operations and discusses the different attributes of business performance and gives an overview in choosing a social networking platform for its business purposes.