As is already known, the rapid development of the Internet and technology certainly changed the world. Looking back through history of technology development, it dates back to the time of invention and discovery of the first tools and techniques that greatly improved and helped the human society, and therefore it can be said that technology is as old as human society. Today there is more than just first tools, machines and techniques. Smartphones, computers, televisions, and even showers have become an inevitable everyday life. Life without an Internet access is now almost impossible to imagine. It has become very important to be a participant in the virtual world and to use modern technologies in both private and business world. This situation had an impact on all economic activities, on every country and every citizen and thus on almost every company. Research shows that in the world by the end of this year, 3.5 billion people will be using the Internet, which is 48 percent of the world's population and about 300 million more compared to last year, so it is not surprising that in Croatia 27% of companies are selling their services, developing marketing, conducting advertising and other business activities via the Internet. World figures are of course much higher in this respect. The data presented give us an insight into the importance and presence of new technologies in society which have a great impact on business of companies that apply them in an increasing percentage. As for social networks, first appear already in the 20th century, more specifically, in the early 90s. The role of the first social networks was primarily communication and connectivity of users, but today they have become an inevitable channel of marketing development, advertising, promotion and business development in general. Usage and presence of social networks and technologies bring with it a large number of advantages and disadvantages in the business world, which is very important and interesting to compare. In what way social networks affect modern business of companies and organizations will be described in continuation of this paper.