Social Business: Why You Should Care

Social-Business
Social businesses are shifting from an inside-out point of view to having an outside-in perspective

In the past most organizations had clear-cut boundaries and roles were well-defined. While they had to be responsive to customers, major decisions were left to management and communications with employees and customers were typically one-way. With the emergence of social media and non-traditional ecosystems, interactions tend to be two-way and change can be driven by any number of stakeholders, including employees, partners and suppliers. Social business is the latest step in the evolution of business that began with the advent of the Internet and electronic communications.

In order to thrive in this environment businesses are deploying and using new social tools and taking advantage of emerging business opportunities. Organizations are evolving to be social businesses. This is defined as those having the strategies and technologies that allow all parts of their ecosystems to be engaged, create value, form relationships and make decisions. In these organizations work is accomplished differently, and products and services are created and purchased in new ways. Since social businesses can adapt to their environments, they are well suited to meet the changing needs of their internal and external constituencies.

IBM has identified three distinct characteristics of a social business:

Engaged – deeply connecting people, including customers, employees and partners, to be involved in productive, efficient ways.

Transparent – removing boundaries to information, experts and assets, helping people align every action to drive business results.

Nimble – speeding up business with information and insight to anticipate and address evolving opportunities.

RELATED POSTS

Hispanic Business Leadership for Uncertain Times

Hispanic Business Leadership for Uncertain Times

How to make delusional optimism work for your Hispanic business this year Congratulations to you and your business if you are in a position to grow your business and bring in a new employee as we progress into this new year. Thank you for your decision to take the...

Reclaiming Our Life In the Age of Technology

Reclaiming Our Life In the Age of Technology

Implementing a digital detox doesn't require drastic measures, but has multiple benefits In an age where technology infiltrates every facet of our lives, the importance of a digital detox has become increasingly apparent. This concept of consciously stepping away from...

Your Brand Is Not What You Think It Is…

Your Brand Is Not What You Think It Is…

Let’s talk about FEELINGS... If you look at today’s marketing and business headlines, there is a lot of chatter about BIG data and AI - it’s everywhere. This compelled me to recently tweet the following “It’s all about BIG data these days but we must never forget the...

Video Gallery

Polls

Sign Up for the Latin Biz Today Newsletter

PR Newswire

Featured Authors

Innovation & Strategy

Money

Talent/HR

Legal

Marketing

Mi Mamá Es Una Brava

Mi Mamá Es Una Brava

She was fierce, unapologetic, unselfish and brava. Editor's note: This is a reprise piece from Gaby Alcantara Diaz remembering her late parents and brother.   Over 21.2 million (all) immigrant women reside in the United States since 2013 with many traveling by foot,...

Culture

Fashion

Food

Music

Sports

Work & Life

Mindfulness

Health & Fitness

Travel & Destinations

Personal Blogs

Pin It on Pinterest