What impact will Social Business have on the future of organisations?

26 Oct

Social business has many definitions as outlined in blackbird333’s Blog in which he gave a definition as  Social Business can be defined as a modern development transforming the way corporations function and generate value for employees, suppliers, customers, stakeholders and partners, (socialbusinessforum.com:2012). The internet has changed the way organisations do business. It has opened up many opportunities for existing organisations and new business ventures but has also led to increased competition mainly through cost as many competitors attempt to lure customers with cheaper prices for products.

 

This is where Social Business can be very useful in maintaining customer loyalty through promotions, customer interaction etc. which will have a huge impact on the future of organisations and play a massive part in their existence. An interesting video by Esteban Kolsky, analyst with thinkJar after his presentation at the CRM Evolution 2012 conference in New York City https://www.youtube.com/watch?feature=player_embedded&v=DkOG9eemrgI#! Speaks about how organisations are adopting which is having an impact on their future outlook

Globalization, Transparency, Social Media, Collaborative software – all part of a social revolution that forces companies to engage in Social Business Innovation and Open Business Leadership. The internet has already changed the future of organisations, with many having to change how they deliver products such as a newspaper company. The internet will also have an impact on how organisations do business which is where Social business fits in. Customers in this day and age contantly use or purchase services or products on the internet. They use multiple paltforms to give feedback and interact with a business (http://socialmediatoday.com/alexhisaka/559559/benefits-social-media-businesses). And as a result they’ve come to expect a response from businesses at all times and from everywhere. This required business to provide instant feedback with regards to products, services and information in order to create customer loyalty which is where adoption of social business can be extremely helpful. The main impact social business will have on an organisations future is how to avail of the tools available through social media and how to create customer relationships that will have a positive effect on the business going forward. This how i have perceived how social business will impact on the future of organisations which in a nutshell is “Customer Interaction” and creating customer loyalty. I’m sure other people can add to this and provide a different spin on my own blog. Any comments are welcome

Advertisements

One Response to “What impact will Social Business have on the future of organisations?”

  1. blackbird333 October 27, 2012 at 12:03 pm #

    I found your blog interesting. I enjoyed watching the video. It discovered that 40% of companies were not engaging with the CRM process. This was mainly due to lack of understanding. There are many companies not properly trained and educated on the process. Some companies also feel that they will not get value from engaging. I feel that it is necessary for businesses to be educated in this process. If you look at my recent blog titled “How are organisations adopting the concept of Social Business?” I discuss recent surveys on employee adoption of the Social Business.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: