Social media: open innovation in SMEs finds new support

Abstract

Purpose The exchange of knowledge in social networks is fundamental to innovation. Open, interactive, innovation requires collaboration through social networks. This social networking is increasingly carried out across the Internet through social media applications. The purpose of this study is to explore the use of social media in open innovation, and explain how this practice is carried out in small and medium-sized enterprises (SMEs). With less resources than large firms, SMEs both have a greater need for open innovation and a less resources to invest in the process. Design/methodology/approach In this paper, the authors study the case of open innovation in start-up Aurea Productiva and induce a framework for open innovation in SMEs powered by social media. Findings The authors explore how the main advantages of the Web 2.0 translate into opportunities, challenges and strategies for open innovation that can be directly applied by managers. Research limitations/implications The authors contribute to research on open innovation by social media and to research on the innovation process of SMEs. Future quantitative research could confirm and extend the authors’ findings. Practical implications Companies that want to fully exploit the benefits of social media can create a strategy that emphasizes coevolution of innovation and resources, sharing their vision and objectives and providing a framework for innovation. Originality/value The authors introduce an original analysis of opportunities, challenges and strategies for open innovation in SMEs.

Knowledge Sharing on Social Media: State of the Art in 2018

“…The publication trend has grown steadily since, reaching a maximum of twelve publications in 2018. Among 45 articles, the recent ones are from 2017 (Amidi et al, 2017;Edwards et al, 2017;Hitchen et al, 2017;Okazaki et al, 2017;Panda & Deepa, 2017;Shen & Guangyan, 2017; Soto-Acosta & Palacios-Marques, 2017; Świgoń, 2017), 2018 (Chang, 2018;Das & Mahapatra, 2018;Esin, 2018;Hood, 2018;Kumi & Sabherwal, 2018;Lu, Zhou, & Chen, 2018;Park & Gabbard, 2018;Sedighehm & Ainin, 2018;Septiani & Ave, 2018;Zhang, Liu, Deng, & Chen, 2018) and 2019 (Nisar, Prabhakar, & Strakova, 2019;Tayebi, Manesh, Khalili, & Sadi-Nezhad, 2019;Kim, Gibbs, & Scott, 2019 etc. ) The rising trend indicates a growing interest in the field of knowledge sharing on social media, but also its infancy.…”

“…Some authors are skeptical and believe that social media limits knowledge sharing (Gibbs & Eisenberg, 2013). On the contrary, positive approaches emphasize how social sites empower innovation through knowledge sharing (Hitchen et al, 2017) or present this channel as the future of the knowledge sharing practices (Majchrzak et al, 2013). Following the positive point of view, Sirous and Watson-Patridge (2016) concluded that social media presents a venue with evergrowing significance, for both individuals and organizations, as it greatly enhances sharing of tacit knowledge.…”

“…Knowledge management is a significant component for companies to survive and maintain their competitive market positions (Park & Gabbard, 2018;Sedighehm & Ainin, 2018). Academics argued that specialized knowledge is a valuable and scarce resource (Kumi & Sabherwal, 2018;Hitchen, Ferràs, & Mussons, 2017;Hajli & Hajli, 2013). Clearly, knowledge should be conveyed to those with the greatest recorded deficiency.…”

Taxpayer’s Perception to Tax Payment in Kind System in Support of SMEs’ Sustainability: Case of the South Korean Government’s Valuation of Unlisted Stocks

“…This study investigates whether the valuations results of unlisted stocks in the TPKS affect taxpayers' repurchase price. To verify the research question, the research model is set similar to Equations (5) and (6). Equation (5) is a research model to verify a difference in pricing the unlisted stocks in the TPKS between the tax authority and taxpayers (SMEs).…”

“…By contrast, the fair value of listed stock can be identified because the stocks are traded in the stock market (with stock market price). The fair value of unlisted stocks cannot be easily identified because an active market for these stocks does not exist [6]. Ohlson [7] argues that a linear relationship exists between accounting information and firm value, and, thus, the unlisted stocks' value can be estimated using accounting information of the current unlisted corporation.…”