Firm Performance-A Social Networks Perspective

Problem statement: The study aims to offer a discussion on social networks and their effect on firm performance and also to illustrate the ways by which the firms utilize social capital through networks. Approach: The literature review and arguments were conducted to provide a systematic discussion of social networks and their effects. Results: The study had provided with a detailed understanding of the strategies that had been found to be highly significant in successful organizational performance. The results of this discussion suggested that social networks affect firm performance in a positive manner and can contribute to sustainable competitive advantage. Conclusion: It confirms that building up of social networks for big and small firms provides valuable links and solves numerous issues which auger well for the companies and should be treated with great importance.