The Importance of Social Media as Source of Information in the Technology Identification in Dependence of External and Internal Factors

Technologies are a key factor in gaining a competitive edge and in ensuring the profitability and survival of a company. Within the last decade a paradigm shift occurred that has placed external sources at the center of identifying technologies. Developments in information technologies have created new external sources of information such as social media, which have enlarged the organizational search field. Social media possess some characteristics which could make them a promising source for technology information. The importance of social media for companies in technology identification has, however, not been examined empirically. This study therefore analyses social media as a source for technological information. The findings of this study show that social media play in comparison to other external sources only a minor role for companies. Additionally, the evaluation of social media does not vary depending on internal or external factors.