Tuesday, January 14, 2020

The Rise of Social Business

1. Social business in numbers



2. It is the People who create Value for your Business and Clients .

3. Social business is a powerful force of change in culture and
behavior that is transforming the way enterprises work to better
capitalize on our most valuable resource: people

4. 36% better customer service reported by companies using Social Tools
ESG Research Report, Social Enterprise Adoption Trends, June 2012

5. In the next 5 years, 57% CEOs expect digital channels to be the key way to engage customers.
IBM Global CEO Study May 2012

6. 65% of Executives use Social Business tools to understand market shifts
IBM Global C-Suite Study October 2013

7. 70% of Executives believe Social Business can fundamentally change the way business works
MIT Sloan Management Review,
Social Business Study: Shifting Out of First Gear,
David Kiron and others,  July 16, 2013.

8. The rise of mobile technology: With almost 75 percent of the worlds population owning a mobile device, information is not only accessible, but available at our fingertips.

9. According to a study done by Salary.com, 72 percent of candidates are using social connection tools to scour jobs.

10. 10 skills for the Future Workforce ( Marcia Conner)
http://marciaconner.com/blog/ten-skills/


11.  Twitter search  #IBMSWchat  for links & further resources on Smarter Workforce = Future Ready Workforce for Digital Era

12. In the USA right now there are over 3 million unfilled jobs, while in countries like Spain, youth unemployment stands at a jaw dropping 47%. The extent of the gap between what employers need and what the labour market provides in terms of skills and talents seems to be continuously widening.

13. The global skill gap is here to stay for as long as technological advances, globalisation and demography continue to redefine work

14. Executives at Wipro, for example, work with tens of thousands of colleges across India to train teachers to develop IT skills, build state-of-the-art curricula, and encourage students to become what they term work-ready

15. 10 ways to Future Proof your Career by Dr Lynda Gratton
This is 2011 article, however still relevant, for individual employees / professionals to prepare themselves for Future
 ( Timeless wisdom by Dr Lynda Gratton )

http://lyndagrattonfutureofwork.typepad.com/lynda-gratton-future-of-work/2011/06/the-10-ways-to-future-proof-your-career.html

15. Andrew McAfee  Social Technology as major Disruption to Global Economy

http://youtu.be/Y04lZ8F3GjQ


16. IMHO, Future Ready Workforce will constitute Individuals who are LifeLongLearners, who have the ability to learn, unlearn, relearn and reinvent themselves. Who are agile, and make  investment in self education and acquiring new skills.

Future ready workforce also mean networked and collaborative workforce. They know how to collaborate, create trust in virtual environment, reach out to experts across borders and locate expertise quickly at the tip of fingertips to create value for clients. 

Future ready workforce means individual employees may not have all the answers to client problems however have the skills to find the answers and reach out to experts.
Who knows what and who knows whom becomes utmost important , hence the value of networks.

Future ready workforce know how to manage work in a borderless economy.


17. Digitisation is a step change even greater than  the internet. Exponential technology advances, greater consumer power and increased competition mean all industries face the threat

of commoditisation. The winners will act now, and build a strategic advantage that leaves

their counterparts wondering what happened.



18. According to Ernst & Young research, other Generation Y

expectations include:

► Collaborative, networked learning: the average user spends

55 minutes a day on Facebook

► Fast, easy and fun communication: Generation Y adults

spend 15+ hours a week on the internet

► Visible peer recommendations in decision-making: 80% of

consumers believe peer recommendations, but only 14%

trust advertisements

► Immediate feedback: 34% of bloggers post opinions about

products and brands

► Environmentally aware: 96% of Generation Y want an

environmentally aware workplace

► Flexibility: 56% of Generation Y prefer to work flexibly and

choose when to work, and 79% prefer to be mobile rather

than static workers


19. Digital Business Model Creator/inventor Year of birth

Facebook  social networking Mark Zuckerberg 1984

Napster  peer to peer file sharing Sean Parker 1979

Spotify  digital music streaming Daniel Ek 1983

Skype  VOIP telephone network Janus Friis 1976

Twitter  microblogging social network Jack Dorsey 1976


20. The Rise of the Prosumer ( E&Y research)

A Prosumer is a term used for a consumer who is unusually interested in products/

services of a brand. Prosumers will dedicate their spare time to upload reviews and

comments and respond to other reviews and comments about the product. Some

prosumers will record YouTube videos to help other users with technical service

issues of a particular product. These individuals can be very useful sources of product

development ideas, or can be incentivised as a low cost provider of technical service to

other consumers.

21. The digitisation of everything How organisations must adapt to changing consumer behaviour (E&Y Research)

 Customers

► Improve customer experience

► Increase marketing, sales and service effectiveness

► Develop multi-channel strategy

Suppliers and partners

► Improve transaction speeds, lower costs

► Optimise the end-to-end digital supply chain process

► Improve supplier relationship management

► Optimise sales and operations planning

Employees

► Manage organisational change

► Develop social policies and governance

► Develop digital skills and capabilities

► Manage recruitment, retention and talent

Leaders

► Develop a digital strategy

► Assess market and competition

► Design operating model and organisational structure


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