• Saso Josimovski Faculty of Economics, University ss. Cyril and Methodius-Skopje, Macedonia
  • Dimitar Jovevski Faculty of Economics, University ss. Cyril and Methodius-Skopje, Macedonia
Keywords: business performance, critical success factors, social media, social networks, e-business models


Since their introduction, social media sites (SMSs) such as Facebook, LinkedIn and Twitter have attracted millions of users, many of whom have integrated these sites in their daily practices. As of this writing, there are hundreds of SMSs, with various technological affordances, supporting a wide range of interests and practices. Social media are gaining popularity and are increasingly used in regular operations of many companies, including start–ups, small, medium-sized, and large organizations. The purpose of this paper is to explore the different critical success factors related to use of web based social networks that can improve business performance of companies in the Republic of Macedonia. This research will focus on the extent of impact that web based social networks have on organizational capabilities and business performance. From the research it could be found that successful deployment of set of external and internal critical success factors can lead to the improvement of business performance (financial and nonfinancial) of the companies.According to the results, the successful use of web-based social networks can improve (1) CRM integration, (2) open communication within a company and (3) ICT integration.


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