Sustainability Management, Technological Innovation and Corporate Social Responsibility for Social Media Small to Medium-Sized Enterprises (SMEs)

Abstract

The aim of this paper is to investigate the impact of the social and technological environment on business performance. Focus is placed on SMEs and their effort to achieve sustainable competitive advantage and thereby sustainable business performance. For this purpose, a survey study was carried out, where primary data was collected from a representative sample of SMEs operating in the Social Media industry of Greece. Questionnaires were distributed to managers and entrepreneurs of the Social Media Industry. These managers/entrepreneurs were selected using a simple random sampling methodology. The findings of the study revealed that social and technological developments have a major role in developing a sustainable competitive advantage. Strategy alignment was also found to be key in tackling the problems and in undertaking the opportunities that arise from the current social and technological environment, thereby reaching sustainable business performance. The findings of the study are especially useful to entrepreneurs and professionals in the industry in formulating effective strategies towards aligning their business with current advancements in emerging digital technologies. Such an alignment would bring numerous competitive advantages and in turn sustainable business performance.