Influence of social networks on business processes’ development

Abstract

Subject. The emergence of new ways of interaction between sellers and buyers, the formation of new sales channels and product promotion based on the use of digital economy tools is at the heart of improving the business processes. Social networks became a tool for development; their rapid growth necessitates theoretical understanding and identification of potential application in enterprise's business process digitalization. Objectives. We explore the role of social media in the digitalization of business processes, systematize the impact of social networks on business processes of enterprises in the digital economy. Methods. The theoretical and methodological analysis of social networks as a tool for digitalization of company's business processes rests on the content analysis of domestic and foreign scientific studies, comparison, generalization and systematization. Results. We highlight the key effects of the impact of social networks on the business processes of the company; show that the digitalization of business processes should be considered in the context of a value-based approach, aimed at creating a value through the algorithmization of company operations. We determine that social networks are one of the most important tools for digitalization of company's business processes, as they have a high organizational and management potential. We also systematize the effects of social media on company's business processes. Conclusions. We present theoretical provisions of the impact of social networks on business processes of enterprises, which will enable to model and organize ideas about the development of digital ecosystems and the formation of business models.