Monday, June 25, 2012

What is Social Business?

“Social business” is a term you can’t escape these days—even if your work just remotely touches on social media platforms, such as Facebook and Twitter, or collaborative technologies, such as IBM Connections or Yammer.

But what does “social business” mean? And why should you care?

In brief: Social business draws on trends in technology (e.g., powerful mobile devices, widespread availability of high-speed Internet access, low cost of data storage), work (e.g., always-on culture, globalization), and society (e.g., propensity to share). Companies should care about social business because they can improve business outcomes (i.e., increase revenue or decrease costs). The core principles touch on all areas of a business, whether for business-to-customer engagement, employee-to-employee collaboration, or supply chain optimization. Making social business work requires focus on a company’s culture, connections, content exchanges, and measurement and analytics.

Let’s pause for a second. As you can see, the definition of “social business” is already unwieldy.

Social business is huge, and it’s not going away. Momentum is building. Companies are using the core social business principles to create competitive advantage and drive business results.

If you can stay true to the big idea, you’ll have the blueprint to transformative success that others clearly have a tough time grasping.


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