By: Dr. Colby Stuart, Institute for Collaboration Creativity & Culture
This 21st century business model escalates the enterprise dynamics of people, business & the connected world. It’s a social revolution. People are coming together online and mobilizing the new economy.
Social media is the vehicle that’s democratizing communication, publishing and organizational behavior. It’s not just about the technology. It’s about how social media connects us, giving us the tools to integrate our business lives into the fabric of our social lives.
Even though there was a lot of hype and broken promises from entrepreneurs at the start of this Millennium, the best of those ideas are now beyond the beta-testing phase and part of our daily routine. One of the best indicators is by the growth of companies supporting social media in the stock market.
Look at the successes of Google, Microsoft, Yahoo, and different Open Source technologies, which have given us the frameworks for access, communication, content development, distribution and transaction. There is a reason society is pushing corporate governance to the forefront and forcing transparency in company behavior. Exclusive pursuit of monetary value alone at any cost is no longer acceptable. This is another indicator of a changing business model.
There are easy, new ways to collaborate, often breaking through traditional hierarchies. Deadlines seem to be tighter, along with budgets. In short, the clients are up to something.The gurus were right in their future planning scenarios when they told us that partnership and collaboration were important for growth. The markets for many
Branches of industry are moving from dozens of markets with millions of customers to millions of markets with dozens of selective customers. For the last decade, many companies have been wrestling with incompatible software to integrate one system with another. They believed that controlling access was a primary corporate strategy and that simpler knowledge management would increase the company’s shareholder value.
Unfortunately, they were wrong. People don’t want proprietary platforms that prevent them from connecting to others and integrating their tools to accomplish what they want to do. New platforms are emerging, enabling individuals to meet, explore a common purpose, and collaborate in secure and comfortable virtual spaces. Distance is dead. Value comes from the uniqueness of the network – and the result of that collaboration. A new culture is emerging from these digital communities of practice. This culture is open, encourages sharing, celebrates innovation – and it has a social conscience. It is leading to sustainable community development through technology-enabled collaboration practices.
The key to this new business model will be how well companies recognize the relationships required by the communities that are mobilizing around their brands, and how successfully they can align their organizations with those communities to capture the value created by those relationships.
What say you?