Kateryna Bondar Livres

Exploring the impact of social media on resource coordination, this work questions the necessity of firms in an increasingly networked world. It utilizes the shared understanding creation framework to analyze data from five firms, highlighting the complexities involved in fostering shared understanding within network environments. The findings culminate in a comprehensive model that outlines mechanisms for creating shared understanding, emphasizing the evolving role of firms amidst technological advancements and social media.

In the fast changing environment where competitive advantage should not be just gained, but sustained as well, companies need to continuously think in terms of innovation and differentiation. Coming up with several new products each year is not enough to compete and new ways to implement corporate strategy aimed at constant growth should be discovered. New tools for innovation should be observed. Therefore, corporate entrepreneurship should become an effective tool for innovation recognized at all the levels of organization and be properly structured and supported. It should be both employees' and organization's driven and successfully communicated around the company. The case of Philips vividly illustrates these statements.