Executives are increasingly recognizing the value of social business to their organizations.
In a recent interview, Gerald Kane, an associate professor of information systems at the Carroll School of Management at Boston College, aptly described the rapidly evolving role of social business tools within companies. “Any new technology experiences a faddish hype cycle where people adopt it because they feel they have to,” Kane said. “With social, we are passing the peak of faddishness. Companies are starting to crack social’s code and turning to it for business advantage, intelligence and insight.”
We use the term “social business” to describe an organization’s use of any or all of the following elements:
Consumer-based social media and networks (for example, blogs, Twitter, Facebook, Google+, YouTube, SlideShare)
Technology-based internally developed social networks (such as GE’s Colab or the Cisco Learning Network)
Social software for enterprise use, whether created by third parties (for example, Chatter, Jive or Yammer) or developed in-house
Data derived from social media and technologies (such as crowdsourcing or marketing intelligence)