How Businesses are Adopting Social Business Concept; ‘Adopt or adapt, swim or sink’ scenario.

21 Nov

How businesses are adopting Social Business Concept; ‘Adopt or adapt, swim or sink’ scenario.

In our previous blog we detailed how social media became the catalyst in the crazy rush for 7 million, present and future customers The aim of this blog is to begin a discussion on how businesses are adopting the concept of social business.

In this case companies are dealing with the Social Business relationship in a scenario where they have to adopt, adapt, swim or sink. This is a situation where Firms may decide to adopt -ie choose, accept and follow; otherwise they must adapt by adjusting, accommodating and conforming. However in our current scenario we are looking at the situations where companies are willing and ready to adopt  and the question is how it happens.

If we take any intimate relationship as an example, maybe intimate friendship or marriage in particular. This is ‘a coming together’ of two distinct individuals who may be simple or complex individuals. Therefore we derive a third condition which is entirely different from the first or second person. This analogy is similar to the social business adoption scenario. In this case the relationship of the Social to the Business is entirely an integration that creates a complete new scenario. We will look at this scenario in the context of the functions of a company merging with the attributes of the social media.  Although business organizations differ considerably in their forms or strategy, however we can identify certain functions which they usually have in common such as, Operations, Marketing, Finance, and Human Resources Management; (http://www.oup.com/uk/orc/bin/9780199296378/01student/additional/page_08.ht)

Presumably the process of adoption is the integration of these business functions and methods to the various attributes of the social media. The business functions and methods will integrate with the social media attributes which include Adaptability, Empowerment, Agility, Connection, Openness, Active intelligence etc, considering the six traits of social business by Sideraworks, http://www.sideraworks.com/our-approach/.  This is not simple mathematical integration, no permutation or combination; it is a complex business transition affecting and changing the way the company functions to create value for the stakeholders. Therefore the evolution from ‘business as it use to be’, to a social business is complex and includes significant organizational changes.

Therefore this decision begins from Planning which includes a consideration of social strategy, goal setting, culture, social structure, social technology, social training etc. Also the planning decision involves the participation or consideration of the various stakeholders.

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2 Responses to “How Businesses are Adopting Social Business Concept; ‘Adopt or adapt, swim or sink’ scenario.”

  1. blackbird333 November 22, 2012 at 8:07 pm #

    I found your blog very interesting. More and more companies are adopting the concept of Social Business. As you have stated above evolution from a business to a Social Business is complex and includes many organizational changes. Many businesses might find adopting this concept of Social Business complex. Do you think that this would make fewer companies adopt Social Business as the change from a business to a Social Business is a complex process?

  2. irokoo November 25, 2012 at 1:19 pm #

    Thank you blackbird333.

    Companies which refuse social business will obey Newton’s first law of Motion.

    More and more companies will continue to adopt social business to their own advantages because they have to. Firms which refuse to adopt social business due to various internal and external factors causing them some “inertia” will obey Newton’s first law of motion which states that, “every object continues in its state of rest, or of uniform motion in a straight line, unless impressed force acts on it.”
    I think therefore, that some companies may continue to move forward until they are stopped by the socio-economic changes imposed by the environmental changes due to social business. In this case, a firm’s inability or refusal to adopt social business carries dare consequences because of the environmental transformation. Therefore Firms must respond strategically if they want to continue business or render value to their stakeholders.
    Remember some dreadful consequences which occurred in the sad death of the printed “Encyclopedia Britannica” during the emergence of the personal computers and the Internet (http://blogs.telegraph.co.uk/culture/allanmassie/100061492/the-sad-death-of-the-encyclopaedia-britannica/). This circumstance is also a reminder of the death of the Dinosaurs. The king of animals, the Dinosaur went extinct because of environmental transformation, perhaps, the geological changes in the Cretaceous era of the earth (http://www.lifestudiesonline.com/dinosaurs/extinct.htm). In my opinion adopting social business may be a “swim or sink” scenario. Although firms continue to experience inertia and exercise caution in their method of adoption, many are willing and are already adopting social business.

    – IROKOO

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