APPLICATION OF SOCIAL NETWORKS IN ECONOMIC ANALYSIS OF COMPETITIVENESS AND SUSTAINABILITY OF COMPANIES

Abstract

As a significant phenomenon today, social networks represent an important tool for analyzing and improving every aspect of a company's operations. They can play a particularly important role in companies that have limited financial opportunities. This

paper aims to analyze the importance of social networks for business improvement, competitiveness and sustainability of companies. Considering that they represent a modern way of communicating with consumers, the task of the work is to point out the benefits that companies could have from its presence on social networks. It is an inevitable fact that the advent of the Internet has brought revolutionary changes in the general functioning of companies. If we take into account the number of users of social networks, as well as their growth from day to day, it can be said that using the opportunities that social networks provide is of fundamental importance for the business success of every modern company.