So have you ever been asked by an executive – “just what then what is a Social Business?”
- A social business focuses on internal communications – so that the organisation is in step with it customers, markets, shareholders and so on.
- A social business is all about engagement with employees – so that employees are better connected with their customers.
- Most investments in social business initiatives revolve around internal communities, social technologies, and training.
- …and most importantly the change, measurement, culture and focus of the Social Business objectives are owned by the executive management within an organisation.
Social business is one of the various sets of business strategies A Social Business starts within and then looks to engage its customers, partners and vendors. This idea is similar to the “old” idea of the Service-Profit-Chain whereby satisfied employees led to satisfied customers which led to satisfying profits.
The Social Business has engaged employees which leads to engaged customers which leads to engaging profits. Social business is one of the various sets of business strategies which enterprises must now build in to their overall business planning – aligned with their higher level Objectives and Goals. It’s not a goal in itself, but an enabler of other business outcomes.
Do you have a different view?