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Posts Tagged ‘collaboration’

Social Technologies & Value Creation

Social technologies “may become the most powerful tools yet developed to raise the productivity of high-skill knowledge workers — the kind of workers who help drive innovation and growth, and who are going to be in increasingly short supply.

This is one of the surprising takeaways from our recent research on the economic impact of social technologies. The business world knows (or thinks it knows) a lot about how social technologies are changing the world. With consumers spending gobs of time in online communities (more than 1.5 billion consumers around the globe have an account on a social networking site and almost one in five online hours is spent on social networks), marketing departments have increasingly shifted their attention to social media. They’re not only advertising and creating their own social sites, they’re engaging with consumers, listening in on unfiltered conversations, and soaking up huge amounts of data on consumer behavior — all of which is producing nifty new insights for fine-tuning product requirements and marketing messages.

It’s powerful stuff that will continue to evolve and change the way that companies market to consumers and B2B customers. But, it turns out that there’s something even more powerful at play: the potential for value creation when social technologies are used to improve collaboration and communication within and across enterprises is twice as big as the value that can be created through all other uses across the value chain.

Via Social Media’s Productivity Payoff

What is Social Media? Why Do We Care?

Social Media. Hate it or love it, everyone talks about it. And has an opinion about it.

While everyone is exposed to it daily, how many people really know what it is?

You, being a self-selecting audience, would likely be able to provide an informed response. Others, however, might simply blurt, “Facebook!” as if that alone explained all.

For my first blog post, I wanted to consider the basics of what we’re discussing. Together, the words “social” and “media” form fabricated jargon which appeared sometime after the advent of Web 2.0, as explained on Wikipedia:

…web applications that facilitate participatory information sharing, interoperability, user-centered design and collaboration on the World Wide Web. A Web 2.0 site allows users to interact and collaborate with each other in a social media dialogue as creators (prosumers) of user-generated content in a virtual community, in contrast to websites where users (consumers) are limited to the passive viewing of content that was created for them. Examples of Web 2.0 include social networking sites, blogs, wikis, video sharing sites, hosted services, web applications, mashups and folksonomies.

Social media became inextricably tied to the internet sometime after 2004. Nonetheless, I argue that social media has existed as long as mass media has reacted to reader submissions and/or called readers to action. Media being a tool for information delivery; social defined as any form of interaction between two entities, corporations or individuals. Reprinted letters to the Editor? Social media. Paper flyers for organizing protests? Social media.

Communication + Collaboration = Social Media

Continue reading article at Social Media Week.
Originally posted  17 January 2012