Social Media in Business Decisions of MSMEs: Practices and Challenges

Abstract

Social media has progressively grown in the last century and is now seen as a potential opportunity for various purposes, including the decision-making. Present work explores how social media platforms such as Facebook, Twitter, and Instagram etc. can be used to support the decision making process of MSMEs. The work is exploratory in nature and relevant literature has been reviewed to identify the decision making approaches at different managerial levels and how they have been integrated with the social media applications. Specific examples of Social media platforms have been discussed, considering the MSMEs’ business environment. Along with the practices, most important challenges to social media integration have also been presented.