Industry 5.0 : Business Platforms and Social Business Networks Cover Image

Индустрия 5.0 : Бизнес платформи и мрежи от предприятия
Industry 5.0 : Business Platforms and Social Business Networks

Author(s): Nikolay Sterev, Valentin Kisimov, Tsvetana Stoyanova, Venko Andonov
Subject(s): Social Sciences, Economy, Business Economy / Management, Sociology, Evaluation research, Management and complex organizations, Social Informatics, Economic development, ICT Information and Communications Technologies, Socio-Economic Research
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: Industry 5.0; social business network; knowledge based economy
Summary/Abstract: The study of the development of business platforms for information sharing is an issue of increasing importance in recent years as there has been a huge increase in the amount of information shared, including photos and video materials, between individual individuals. At the same time, business platforms are still accepted by companies as the "forbidden fruit" that everyone wants for themselves but not to share. The importance of social business platforms is justified by the fact that this issue covers the intersection of two main fields, especially important for a modern, economically rational society: knowledge, as permanent and significant information, which is acquired and used in making important economic and management decisions, on the one hand; information dissemination technologies, using modern tools and approaches, for example, social networks, on the other hand. Formulated in this way, the problem of combining knowledge as an approach to management of modern economic and social systems and tools, from a technical point of view, has not been the subject of more in-depth research either in Bulgaria or around the world. The significance of the researched problem is also expanded in the search for the combination of two different approaches to a new social and economic phenomenon: dissemination of information between individual social units through the sharing of knowledge, experience, photos, and video information. The liberalization of world markets, the dynamic development of new technologies, and the rapid growth of resources devoted to training and innovation turn knowledge into a basic production resource and a critical factor for the success of individual companies and countries, and the "knowledge economy" becomes a key word. Thus, with the development of information technology and its tools, we are witnessing a real revolution in the creation, distribution, accessibility, and use of knowledge. Knowledge has become the most valuable asset, with its own rules of existence and management. The more knowledge is added to a product, the more valuable it becomes. The conducted literary and applied research shows that both the attitude and the motivation to join business social networks depend on the use of Internet techniques and the digitalization of business. However, the relationship found and the real dependence are not so clear and/or so strong. The explanation is that social business networks are used similarly to traditional social networks. This leads to the fact that Bulgarian managers are too skeptical about the benefits of social business networks (or because of a lack of trust or unwillingness to share information or to be part of the information community), since many of them are offline: there are no emails, no corporate pages, no network profiles, etc. That being said, the real business digitization effort is the translation of business excellence from real business to the digital world. In summary, social business networks should be accepted as the natural evolutionary development of business digitalization. Accordingly, businesses must decide not whether to be part of these emerging global business networks, but how to join and which business networks to join, so as to derive maximum benefits for their future development.

  • Print-ISBN-13: 978-619-232-732-3
  • Page Count: 180
  • Publication Year: 2023
  • Language: Bulgarian