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This paper aims to explore how social media can be used strategically for delivering the promises of open innovation and examines the types of structure that can foster the integration of these new tools with more classic top-down innovation approaches.

A single case study of, ALPHA (pseudonym), a multinational company that combined an integrated strategy and the creation of a lean structure with the full potential of social media.

To take on the challenges of energy transition, ALPHA has implemented a low-cost approach allowing it to harness the promises of open innovation. This combined the introduction of a lean structure, two social media platforms and processes that ensured the integration of open innovation activities with existing departments.

The research is based on a single case study. Further research should be conducted to establish the generalization of the results.

This paper highlights the key success factors in making such a light approach successful, namely, controlling cost and disruption of open innovation; integration matters; leveraging complementarities with existing social media initiatives; and bottom-up adoption.

The research provides a unique approach that can be practically implemented to leverage social media to deliver the promises of open innovation and offers an original way of integrating social media lead innovation and open innovation strategies with more classic R&D activities.

This chapter examines the marketplace context for media innovations. This includes factors that have been well researched and about which much is known, for example, pricing and early adopters, as well as marketplace elements and patterns that are not so thoroughly understood but are nonetheless very important in understanding the process of adoption, for example, the role of serendipity. It reviews patterns of adoption that were prevalent in the twentienth century but which have changed in the twenty-first century, for example, how word of mouth has been transformed by social media. Declines and failures as well as successes along with the international scope of media innovations, including in developing countries, are accessed.

The advantages and disadvantages of large and small companies creating media innovations are reviewed as are the respective roles of content creation and distribution. The concluding discussion section describes the contexts for media innovations today, including concerns about their privacy, use of media in public places, filters for new media innovations to identify likely successes, and the importance of teams in developing media innovations.

With the rise of social media, the practice of innovation management is changing rapidly as well. While the opening up of corporate innovation processes can be observed in literature as well as in practice (commonly known as “Open Innovation”), we draw the reader’s attention to the strategic potential of social media in innovation management. For this, a conceptual framework will be introduced.

In this chapter, we compare established concepts of knowledge management to potentials of social media in this field, which offer more efficient and promising ways to integrate external knowledge into innovation processes. This approach is discussed by considering the integration of customers and especially Lead-Users into corporate product development. Based on the concept of Open Innovation, we reflect the role of Lead-Users in the innovation process critically. Mounting on our reflections, we show the potentials of social media for integrating Lead-Users and develop a conceptual framework for the integration of Lead-Users using different social media applications.

In this paper, a conceptual framework for integrating Lead-Users by using different social media applications is developed and introduced.

The unique conceptual framework derived in this chapter is enriched with a discussion of the challenges resulting from the implementation of Lead-User integration along with social media in corporate innovation management. The chapter can help companies as well as researchers to implement a process for the integration of Lead-Users by using the potentials of social media applications.

The purpose of this paper is to empirically investigate how big data collected from social media contribute to knowledge management practices, innovation processes and business performance.

The study used 418 questionnaires collected from firms that actively invest in marketing, advertising and communication in the Italian market. The hypotheses testing and analysis were conducted using structural equation modeling.

The results reveal that customers’ data gathered from social media produce different effects on knowledge management practices and firms’ innovation capacity. Furthermore, increased innovation capacity turned out to affect customer relationship performance directly, while it contributes to gain better financial performance only when it is used to gain relational outcomes.

The outcomes of the study help firms to develop a clear understanding about which big data retrieved from social media can be useful to improve their knowledge management practices and enhance their innovation capacity. Moreover, by investigating the mediating role of big data knowledge management in the context of social media knowledge acquisition and innovation capacity, this study also extends the mediation variables used to understand the relationship between knowledge capabilities and practices and innovation constructs.

The purpose of this study is to understand the strategy adopted by family firms in using social media for their business. Based on the social media usage, this paper attempts to segment family firms. To do so, a reactive – proactive – innovative (RPI) scale was developed for the study. Then, the family firms were categorised as reactive, proactive or innovative social media users. Further, based on the scale developed, clusters were created. Family firms were placed into different clusters based on the strategy that they had for using social media platforms for their business.

A pilot sample of 50 family firms and a main study of 256 Indian family firm entrepreneurs were surveyed through self-administered questionnaires. Factor analysis reduced the 12 scale-based questions to three distinct factors. Confirmatory factor analysis was then conducted on the main sample to confirm the constructs identified using exploratory factor analysis. Cluster analysis was used to build clusters of entrepreneurs who use social media as part of their digital marketing strategy.

Findings reveal that the Indian family firm market is largely divided into four main segments. These segments represent distinct behaviours with respect to the use of social media. The four segments of family firm entrepreneurs were named as high rollers, ignorant inhabitants, trend-setters, combative crowd based on their social media usage behaviour. These clusters give deep insights into the strategic usage of social media by family firms.

The limitation of this study is that entrepreneurs from all Indian states were not considered in the sample because of cost implications. This research study has only created the segmentation of the family firms as reactive, proactive or innovative social media users and also has created the clusters as high rollers, ignorant inhabitants, trend-setters and combative crowd. Also, the reasons for their behaviour and root cause for the strategic usage have not been studied.

This study reflects on current practices of family firms with respect to usage of social media and groups them into large identifiable clusters. Equipped with the findings from this study, the RPI scale developed for the study and the clusters created, entrepreneurs can now move towards better use of social media for innovation.

Although past studies have advocated the use of social media to spur innovation in firms, this study segments the current market based on their practices. It allows readers to gauge the proportion of family firms using social media for innovation and paves the way for a change in behaviour amongst these firms.

The purpose of this paper is to evaluate the effect of CRM performance and technological innovation on performance of media entrepreneurs considering firm size.

This is an analytical study used to empirically test the hypotheses proposed for SEM techniques using PLS and R packages. It used two steps in this way: the assessment of the outer model and the assessment of the inner model. Moreover, a bootstrapping method was employed to test indirect effects. Data were collected by distributing 127 questionnaires between the managers and deputies of active firms across Rasht, Iran.

The effect of CRM performance on SMEs performance development is partially mediated by media entrepreneurship. Moreover, the effect of technological innovation on SMEs performance development is mediated by media entrepreneurship. Furthermore, permutation test results indicated that there is no significant difference between small- and medium-sized firms.

This study used cross-sectional sampling method that can seriously limit result generalization. Therefore, conducting longitudinal studies is strongly recommended.

The results of IPMA matrix indicated the serious importance of technological innovation, as a variable with the highest importance for SMEs performance development. Nevertheless, this variable has received the lowest importance in the studied population. Therefore, SMEs’ managers should pay sufficient attention to the concepts of “product innovations” and “process innovations.”

This study is of high importance in that it has adopted new and effective indices for statistical analysis. IPMA matrix, permutation test, CTA and FIMIX are examples. In addition, plspm and Matrixpls packages in R were used for the first time in this study.

The purpose of this paper is to study the effects of social media usage on four knowledge creation processes, namely socialisation, externalisation, combination and internalisation, and innovation in small and medium enterprises (SMEs).

A sample of 96 SMEs has been used to gather data through a standardised questionnaire and test the hypotheses through OLS regression models.

The results indicate that social media influence positively three out of four knowledge creation processes and that they help to foster the innovation process.

From a theoretical perspective, the study contributes to literature considering a specific digital tool and its effect on knowledge creation and innovation. In fact, a few studies have considered the impact of social media usage on other variables, such as ROI and productivity, but never on knowledge creation and innovation through a quantitative study. From a managerial perspective, the research suggests managers to implement and involve social media within business and innovation processes.

This chapter establishes the conceptual and analytic framework for the book. It relates not only to much of the existing work in evolutionary and institutional economics, but also to work in cultural science and cultural semiotics domains as well as in media convergence and transmedia studies. The central concept it first deploys is ‘innovation systems’ as applied in national, regional, international and sectoral contexts. It then builds on the general theory of economic evolution by Kurt Dopfer and Jason Potts and reviews the tools this theory provides to carry out a meso-level analysis of industries co-innovating and converging. It then proposes a new concept – ‘cross-innovation’ – to refer to the emergence of new structures and ‘rules’ at the boundaries of existing industries.

This study aims to propose and test a theoretical model exploring the impact of internal and external factors of social media use by IT organisations on open innovation (OI) adoption with the mediating effect of knowledge management capabilities.

Data were collected from 200 IT firms and partial least squares structural equation modelling was used to analyse the data of this study and to test the research hypotheses.

The results revealed that both customer involvement in social media and top management support (TMS) for social media had a significant impact on OI adoption. However, only the relationship between TMS for social media usage and OI link was mediated by knowledge management capability.

This study stresses the importance of social media policy development for business managers to create an interactive platform for their customers to participate in the activities of the firm. Moreover, the results suggest that for developing open knowledge management capabilities, leaders must focus on and support the use of social media technologies by the firms.

Social media technologies have taken the world by storm. Organisations and individuals are influenced by the knowledge available on Web 2.0 platforms. Most of the current research has focussed on the impact of social media use on OI in developed countries, but developing nations on the Asian continent have been left out of this discussion. Moreover, while most studies have focussed on the OI outcomes, less efforts have been directed towards understanding and exploring the OI antecedents.

The exchange of knowledge in social networks is fundamental to innovation. Open, interactive, innovation requires collaboration through social networks. This social networking is increasingly carried out across the Internet through social media applications. The purpose of this study is to explore the use of social media in open innovation, and explain how this practice is carried out in small and medium-sized enterprises (SMEs). With less resources than large firms, SMEs both have a greater need for open innovation and a less resources to invest in the process.

In this paper, the authors study the case of open innovation in start-up Aurea Productiva and induce a framework for open innovation in SMEs powered by social media.

The authors explore how the main advantages of the Web 2.0 translate into opportunities, challenges and strategies for open innovation that can be directly applied by managers.

The authors contribute to research on open innovation by social media and to research on the innovation process of SMEs. Future quantitative research could confirm and extend the authors’ findings.

Companies that want to fully exploit the benefits of social media can create a strategy that emphasizes coevolution of innovation and resources, sharing their vision and objectives and providing a framework for innovation.

The authors introduce an original analysis of opportunities, challenges and strategies for open innovation in SMEs.