1) The term social media refers to the use of web-based and mobile technologies to turn communication into interactive dialogue. Andreas Kaplan and Michael Haenlein define social media as "a group of Internet-based applications that build on the ideological and technological foundations of Web 2.0, and that allow the creation and exchange of user-generated content." Social media are media for social interaction, as a set of methods to enhance social communication, using ubiquitously accessible and scalable communication techniques.
2) social media is a set of technologies and channels targeted at forming and enabling a potentially massive community of participants to productively collaborate. IT tools to support collaboration have existed for decades. But social-media technologies, such as social networking, wikis and blogs, enable collaboration on a much grander scale and support tapping the power of the collective in ways previously unachievable.
Six core principles underlie the value of social-media solutions, and, in combination, serve as the defining characteristics that set social media apart from other forms of communication and collaboration.
Making our favorites or bookmarks social is an easy, effective means of knowledge sharing for distributed groups.
Social bookmarking is a way of saving URLs online so that you can access them from anywhere.
Many of us use our browsers to save favorite website URLs (uniform resource locator), but what happens when we use a public or work computer? Our bookmarks aren't there.
Also, imagine the benefits of sharing bookmarks. We can leverage the work we did in finding, tagging, and saving bookmarks for other people who share similar interests or who are searching for similar information. Social bookmarking addresses both these issues by letting users:
Save bookmarks to the web so they are readily accessible from anywhere, and
Share bookmarks with the public or specified groups or individuals through tags or by creating networks
Social networks are collections of people and organizations who are connected to each other in different ways through common interests or affiliations. The glue that holds these networks together is relationship: connections and reciprocity. This can also be called trust.
• Nodes: A single entity, person or organization; an individual actor.
• Ties: The connections between people and organizations—a relationship.
• Hubs: People or organizations that have lots of connections, also called influencers.
• Core: Inner cluster of people who do most of the work on any project or effort.
• Cluster: People or organizations that are closely connected to one another, but have few connections to the rest of network. They have strong ties but less potential for the introduction of new ideas and opportunities. Think cliques, where every person knows every other person in the network.
• Periphery or Edge: Living at the edge of a network means you may have looser ties within the network but connections to may disparate networks. It is from the edge that networks grow.