master thesis presentation
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This is the presentation for my MSc thesis: "The added value of social media in procurement" Alwaysglad to provide any additional information.
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master thesis presentation
- 1. “Added value of social media in procurement”
- 2. “We don’t have a choice on whether we do social media, the question is how well we do it.” (Erik Qualman, author of Socialnomics)
- 3. Why? Potential of social media use in other disciplines - networking, information sharing & communication in MKT (Kho, 2008) Procurement gaining strategic importance (Kraljic, 1983) Why not utilize it? (intersects with MRT)
- 4. Procurement
- 5. Social media tools that offer users the ability to interact, share and receive information when online, under an established framework (wiki tools, blogs, social networking sites)
- 6. Added value “A company’s value chain is the entity throughout which all the stakeholders involved are expected to increase the value offered to the end customer” (van Weele, 2010)
- 7. Research objectives Theoretical: contribution to theory on how social media use can enhance procurement value Practical: offer some best practices of social media use to procurement professionals
- 8. Conceptual model (1) Comprehensive literature review to: Acknowledge motives for social media use Form hypotheses in how SM use can increase procurement value
- 10. Research method (theory building) 2 Parts: 1st part: secondary data collection in order to assess content of interaction, purpose of use 2nd part: interviews in order to assess the perceived added value of SM by professionals
- 11. Part 1 (secondary data) 15 twitter accounts, 1238 tweets collected manually Discussions in 3 LinkedIn groups (procurement related) & LinkedIn questionnaire Procurement blogs (procurementleaders, spendmatters etc)
- 12. Twitter
- 13. LinkedIn
- 14. Blogging
- 15. Part 2 (qualitative interviews) 20 minute interviews with 5 purchasing professionals from major FMCG (Danone) FMCG highly segmented market with high competition and low margins, any tool can be useful
- 16. Result analysis (content) Interactive tweets: 6.57% Information 80.29% sharing tweets: Re-tweets: 13.14%
- 17. Result analysis (interviews) Supported Supported Partly Neglected supported Neglected Neglected
- 18. Conclusions… According to both the interviews and 1st part of research: Social media is used by procurement professionals in a voyeuristic manner (Rojemeijer et al.,2012) with the aim of gaining access to information, thus increasing market intelligence Barriers: Lack of frameworks and rules that contextualize information, thus save time Skepticism about IP risks
- 19. Implications Academic: effort to address a new topic provides some directions for future research, as well as some insight on how social media can affect buyer-supplier relationships Managerial: current practices of SM use, that can be used in order for professionals to better incorporate it in their everyday work
Editor's Notes
- I would like to thank you all for taking the time to be here this afternoon, my supply chain colleagues, my coach, Melek, my co-reader’s substitute ….. So, with no further delay, the topic of my research is “added value of social media in procurement”.
- This is a quote by Erik Qualman, the author of “Socialnomics”, that reveals the importance and wide expansionOf social media in business, one of the reasons this topic was selected. It is safe to assume that everyone in hereIs familiar with at least one form of social media platforms (since 90% of internet users are). We all have seenAdvertisements on facebook, are aware of the head-hunting that takes place in LinkedIn or are following someSuccessful entrepreneur (Bill Gates, Warren Buffet etc) on twitter.
- So, in short, to present some of the reasons this topic was selected: after comprehensive literature review fromother disciplines, the main advantages of social media were recognized to be networking, exposure and communication,Which, in combination with the strategic nature of procurement, were assumed to pose an advantage forThe procurement strategic mix, through relationships with the suppliers. A gap in comprehensive theory, for that matterwas detected. To present the main notions that were the drives in this research:
- Borrowing theMonczka framework for procurement (which I understand is a very popular one), the main functionsOf procurement are presented. Skipping the first 3 boxes, the research is focused on the fourth aspect. Therefore,The development and management of supplier relationships. Important to note here, that this research only takes intoAccount the relationships of professionals with suppliers, and not with other stakeholders.
- Social media are all the tools, such as wiki, blogs and networking sites that allow users to create, share and receiveInformation online, in a collaborative manner, which was made possible by the emergence of the Web 2.0 architecture.Examples we all are more familiar with are LinkedIn, twitter, facebook, Wikipedia etc
- Combining the two aforementioned definitions, in order to reach to the formation of the research topic, is this last definitionof the “value chain”, borrowed by van Weele (probably the most popular name throughout my thesis): “a company’s valueChain is the entity through which all the stakeholders involved and expected to increase the value offered to the end customer”.But this value chain starts with procurement, therefore a logical assumption here is that something that starts successfullyhas more chances to progress as such. Therefore, why not utilize all media available, in order to facilitate the procurement function?
- With the definitions and topic in mind, the time feels right to present the research main objectives: the theoretical objective, which was primarily the reason for choosing this topic, is to acknowledge ways in which SM use by procurement can enhancethe procurement input, whereas the practical objective, which was recognized after the proposal was handed in (after all, a master thesis is a work in progress), was to offer some best practices of SM use to professionals in order to facilitate their Everyday work.
- Following the research objectives, comprehensive literature review was conducted in order to: a) acknowledge the motivesFor social media use and b) form hypotheses in how social media can facilitate the procurement strategic mix and increaseThe added value.
- Therefore, after building up the suspense, the conceptual model of the research is presented: on the left we have the Incentives for social media use by procurement and on the right the antecedents of use, meaning ways to add value.
- To test the conceptual model of the research, 2 steps were followed: the first step includes a collection of secondary dataFrom twitter and LinkedIn in an effort to address the purpose of social media use, and the second step where qualitative Interviews were attempted in order to assess the perceived added value of social media use by professionals.
- More analytically: For the first part, 15 twitter accounts related to procurement were traced back to 1 month, as well as LinkedInDiscussions from procurement related groups. Off course, not to forget all the blogs that were used duing the theoretical reviewPhase.
- These pictures show the way in which twitter data were selected. Funny thing: the account on the left is not the one on the Right, but I understood this just today.
- This is an attempt to collect LinkedIn opinions for my topic, but the participation was too small for it to be considered significant.
- Here are 2 blogs that were used in order to collect information relevant to this research.
- Reaching the second part of the research: interviews with purchasers from Danone took place in an effort to address the perceived added value of social media use in purchasing, potential best practices of use and current level of use.
- To continue, the results of the first step of the research clearly indicate the reason social media is merely used as a tool, whereas other aspects, such as networking are left unutilized. The case is the same with the LinkedIn discussions, where theMost popular posts are the ones that share best practices, advice etc.
- Therefore, according to the interview results, combined with the first step data collection, the conceptual model of the researchis formed as such: one hypothesis is fully supported, whereas one is partly supported and the rest are neglected. Hence, the mommentFeels right to present the research conclusions:
- we reach to the research conclusions that emerged from combining the 2 aforementioned steps: social media is used by professionals in a voyeuristic manner, meaning a more passive behavior, since their main objective is to collect information and gain access to some best practices. There is a lot of skepticism on whether social media can assist in other ways in the future, but certainly some problematic areas that can enhance their usefulness were mentioned to be the existence of mechanisms that a) contextualize information and b) reduce IP risks.
- After briefly discussing the thesis, it is now the time to present the research implications. The managerial ones reveal ways in which social media can be used as an information mining tool in order to increase industry knowledge, trends and best practices. Regarding the academic implications, this research can definitely be the base for a lot more research to follow, since an unexplored topic was attempted. Apart from that, an attempt towards showing the connection between social media use and buyer-supplier relationships, as well as SM impact to procurement performance took place.
- Thank you all for coming!!!!!!