Impact of Social Media
“In the midst of chaos, there is also opportunity.” – Sun Tzu
Even though Sun Tzu’s words were formulated on the battlefields of the ancient world, his strategies can be applied in the world of rapidly advancing technologies, such as social media. The complexity of the modern business world is due in part to the rise of social media as a form of advertisement and revenue generation. As a free tool for organic growth, both publicity campaigns and advertisements can be broadcast across the world with the click of a button. Social media managers have become an integral piece of business marketing as well as stellar information hunters. Through investigations of the competitions’ profiles, posts, and patterns, social media has made it easier than ever for businesses to analyze the weaknesses of their competitors; identify niche, underdeveloped markets; and manage their own flow of information.
Information Overload
According to a study conducted by the University of Zululand, social media platforms have been leveraged as game-changers in improving the performance of small or medium businesses, especially in terms of growth and profitability. The researchers concluded that businesses without a social media strategy ought to adopt one because the increase in opportunity for earning higher profits due to social media advertising is significant. In this contemporary era, the usage of social media as a business strategy has become a necessity. The regulations on social media content, however, are limited at best, just as is the case with all information available on the internet.
Market Complexity
It is important for a business to scope out the competition ahead of time, so performing research on a specific niche within the industry, as well as market trends, is necessary. The online world is full of information that is misleading, incomplete, or factually incorrect. Data quality issues plague most industries at every level. Workers seeking market research waste up to 50% of their time verifying information through cross-examination of multiple sources. Whereas before, information could be gained through conversation, statistical analysis, and customer research, now, even the simplest market trend takes hours to dissect. Our contemporary world is so overcrowded with information that taking it in all at once would be overwhelming.
Strategic Adaptation
Businesses must invest more resources than ever before into the process of analyzing the battlefield and their competition. The application of Sun Tzu’s advice on prioritization and conservation of resources is more relevant than ever: “There are roads which must not be followed, armies which must not be attacked, towns which must not be besieged, positions which must not be contested, commands of the sovereign which must not be obeyed.” Although there are plenty of leads to chase, sources of information to verify, and opportunities to seize, a business must choose carefully where they allocate their time, resources, and employees, especially when investigating the competition. The ability of a business to prioritize their objectives and to organize their tasks accordingly will dictate their overall success.
Conclusion
By recognizing and adapting to the complexities of the modern business world, companies can utilize Sun Tzu’s timeless strategies to navigate the digital battlefield effectively. Strategic planning, prioritization, and resource allocation are more crucial than ever in this era of information overload and rapid technological advancement.
This article is the third in a series of 6 articles related to Mastering Business Warfare with Sun Tzu’s “Art of War”. The Art of War is available free at The internet classics archive.