Understanding Social Media

What is social media – and what is it not

What challenges and opportunities emerge from the evolution of social media for companies?

What are the basic functionalities necessary for Web 2.0?

What is User Generated Content (UGC)?

How does social presence theory define the degree of social presence?

What is the goal of media richness theory?

What are the two key elements of Social Media?

What types of Social Media applications can be distinguished?

What is the main idea underlying collaborative projects?

• The joint effort of many actors leads to a better outcome than any actor could achieve individually.

• Collaborative projects are trending toward becoming the main source of information for many consumers.

• Not everything written on Wikipedia may actually be true.

• Collaborative projects provide unique opportunities for firms.

What are blogs considered in the context of Social Media?

• The earliest form of Social Media.

• A type of social networking site.

• A platform for video sharing.

• A content community.