Social Internet networks for business development: The case of Latvia

There is no common understanding among specialists and entrepreneurs about the phenomena of internet social networks and very different views exist on the concept of “social networks” and its importance for business. Today’s information and telecommunication technology makes it possible to communicate data and other information exchange regardless of location, distance and time space. The most popular e-tool used for communication is social networking. Social networks have experienced an evolutionary process - in the beginning there was like-minded grouping, news exchange by means of e-mail. Later on social networks developed that became a tool for e-business. Social networks can be effectively used in different e-business and e-marketing activities, such as sales, advertising, PR, human resources, customer segmentation etc.