The digital economy is transforming the lives of people and organizations. There is a revolution in media, market relations and consumer behavior. Also there is a revolution of rising expectations by crowds of people who are rejecting old business philosophies and outdated management practices. Revolutions create change as changes accelerate through spheres of influence. Revolutions create buzz because the human network is attracted to changes that create meaningful value.
The buzzword is social media. The term social media goes beyond what we are witnessing today in terms of human interaction and the subsequent changes fueled by the interaction. Conventional spheres of influence are accelerating changes in business processes, market dynamics and buyer preferences. However the marketplace of sellers considers these changes as merely an alternative to make a channel for marketing or selling product on and off line.
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