What is Social Business?

16 Oct

As stated earlier there are a wide range of definitions available to us on the meaning of social business. It is a term that is steadily growing in the business world. This can be put down to the popularity of Social Media today. It seems that companies are now taking advantage of social media opportunites in order to get the most out of their businesses. One interesting definition I came across is that “Social Business is the creation of an organisation that is optimised to benefit its entire ecosystem (customers, employees, owners, partners) by embedding collaboration, information sharing and active engagement into its operations and culture. The result is a more responsive, adaptable, effective and ultimately more successful company” (www.slideshare.net).  All companies should be concerned with Social Business as it is clear that many business outcomes can be improved by it.

On the question of why social business works within a company IBM say that “When you inspire your workforce to innovate and collaborate more productively, you create tangible business value. When you anticipate needs and deliver exceptional experiences, you delight your customers and create advocates. When you integrate your business processes with the right social tools, you secure a competitive advantage and pioneer new ways of doing business” (www.ibm.com).

It seems from what I have read that Social Business is the way forward for companies today and businesses can benefit greatly from it. What other definitions did people find?

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2 Responses to “What is Social Business?”

  1. eddyjquinn October 20, 2012 at 9:52 am #

    Just off a bit of opinion, in relation to your statement from ibm“…you secure a competitive advantage and pioneer new ways of doing business”, surly if every company adopts social business practices and ideologies than all companies will have the same “social business advantage”. Therefore in my opinion, competitive advantage only cannot be directly associated with social business.

  2. le1008 October 21, 2012 at 3:34 pm #

    I do agree with you on this and it is a good point. It makes sense that if all businesses adapt to social business then there will be no companies with that ‘edge’ over others.

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