THE MANAGERIAL VIEW OF SOCIAL MEDIA USAGE IN BANKING INDUSTRY:CASE STUDY FOR ROMANIAN BANKING SYSTEM

Kristine Kirakosyan

Proceedings of the INTERNATIONAL MANAGEMENT CONFERENCE, 2014, vol. 8, issue 1, 225-241

Abstract: New technologies based on the Internet and World Wide Web have changed the business world in 20th century. The Internet has emerged as the world’s major distribution channel for goods and services, the easiest and cheapest way for communication and interaction. It has influenced all business areas by making them to be drastically transformed, requiring new challenges, communication approaches and creative behavior in the “dot com upheaval. It has affected banking industry and made it to deal with drastically new challenges. Here managers need to establish new ways to transform and adjust their organizations to the new changes, to communicate to customers, which best can be done via Social Media.Social media has become a part of human life. It has entered consumers' day to day lives and has impacted today’s business world. The rapid progresses in technology seem to have more impact on changes in the banking industry than any other. Actually, today banking industry is extensively debating, discussing and thinking on Social Media usage in financial world. Banks have begun to catch that social media is a new challenge for them and it can become a crucial constituent of banking strategy. This article is focused on social media usage in banking industry and its managerial view. Based on theoretical researches we set hypotheses and for testing them we did research in Romanian banking system. Thus social media in banking industry is a discussion topic of this article which than comes up its managerial view in Romanian banking industry.

Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:rom:mancon:v:8:y:2014:i:1:p:225-241

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