Lori Furman, an Innovation Consultant with Information Technology Company and Chevron discussed enterprise adoption of social technologies at an IMF Innovation Web Forum that was held this past April. In this presentation, Furman explained social computing and presented opportunities to drive business value. In her presentation Furman notes, “[social computing] represents the next generation of the web, from a paradigm where users would consume the content website owners published. Now, you are not only consuming what is on the web and controlling how you consume it, but you are also generating content.”
There are many different types of applications that are available. According to Furman, “Social computing technologies are largely about how people are interacting and sharing information. The reason that social networking has taken off in the last two years is because it is an easy and inexpensive piece of software to use, and people are finding a lot of value in that.” Many of these social applications include social networks (Facebook, LinkedIn, etc) blogs, social bookmarking, crowd sourcing and prediction markets, and discussion forums.
An aspect of social computing that is significantly on the rise is the emergence of social networks. Social networking is a booming arena with individuals and companies alike trying to figure out a method to the madness.
CIO published a list of common social networking websites from A-Z. Click here to view them.
At the IMF, we too are jumping on the social networking bandwagon to not only understand this growing phenomenon, but to also find innovative ways to use these technologies.
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Though social networking has been popular for personal use, many questions have arisen about the effectiveness of social networking in a business setting. Is there a way for businesses to effectively utilize social networking applications?
The question of effective use of social networking sites is addressed in an article by Karen Klein of Business Week. In this article are suggestions that help businesses “look past the hype, set concrete business goals, then start experimenting.”
The suggestions that were given in the article include finding a networking niche. This involves observing top sites and seeing what may work for your organization. LinkedIn is cited as a good website for human resources and networking. Peter Delgrosso, strategic vice-president for corporate communications with Web.com, stated in the article, “[LinkedIn] requires some resume creation, and then offers the opportunity to link in to other like-minded professionals. When used selectively it can be a very powerful tool for identifying new business partners, new employees, or simply building your personal or business presence.”
Another suggestion highlights ‘geometric extension’ and search optimization. Because content usually can be pasted from site to site, something on YouTube for example could be promoted by links posted on Facebook, Twitter, and a company blog. Robert Jenson stated in the article that the more sites that include your name and link back to your website or blog, the higher your profile rises in search engines, where more and more of your customers are likely to find you.
Dr. Jonathan Reichental, IT Innovations Director at PricewaterhouseCoopers, also presented at an IMF workforce web forum and similarly discussed the topic of social networking in the workplace. Reichental said, “Social media in a business context is a transformational phenomenon that should not be underestimated. The whole notion of completely new ways of engaging customers and empowering employees may represent a considerable shift in work, just as we saw in the agricultural and industrial revolution.” In his presentation, Reichental went into specific social networking examples including offering his advice for actions that can be taken by an organization on the approach to social networking.
Clearly, if the potential of social networking is utilized correctly, organizations can reap significant benefits.
To read the Business Week article “Are Social Networking Sites Useful for Business” click here.
To read the IMF report from Lori Furman’s presentation on “Enterprise Adoption of Social Technologies,” click here.
To read the IMF report from Dr. Reichental’s presentation on “Social Networking in the Workplace,” click here.