We are living in an era of social transformation…where new business models and operating philosophies are replacing the old. This era is about a lot more than just media and marketing rather it is about understanding the new rules of the marketplace….the marketplace of people connected to everything and everyone because of technology.
“Connectivity” has changed the “system” which enables people to find, learn, engage, and create value. When we look at all the systemic parts together, we can see how Social affects all parts of the business model: the way an organization creates, delivers, and captures value. They also shift the ethos by which we lead and work.
Traditional Strategy Is Dead. Welcome to the #SocialEra – Nilofer Merchant writes: Social can be — and already is — more than Media.
The companies thriving today are operating by a new set of rules — Social Era rules. Companies like REI, Kickstarter, Kiva, Twitter, Starbucks — they get it. They live it. And to them, notions like distributing power to everyone, working in extended community to get things done, or allowing innovation to happen anywhere and everywhere are, well, ridiculously obvious. But too many major companies — Bank of America, Sports Authority, United Airlines, Best Buy, and Walmart to name just a few — that need to get it, don’t.
The failing organizations around us continue to follow the operating rules and ethos of Traditional Strategy. They haven’t seen the obituary for traditional strategy.
New Rules For Thinking
Knowing the rules of a business is a prerequisite of being successful. On the other hand, you can’t be successful in the era of social transformation unless you understand the shift in thinking. A shift in thinking represents a change in philosophy. The digital economy is more about a philosophical shift than it is about a shift in media. New solutions will be found by those who understand the new rules and it is the new rules that will create new opportunities in the social era.
So you ask “what is the philosophical shift?”. If you study the who, what, how, where, when and why people find, engage and create value you’ll understand the shift in thinking. When people, and entire markets, represent a shift in thinking it means all the old rules of strategy and business are not in line with the thinking of the market. Not being in line with the markets thinking means you won’t related to the market.
If you think the use of social media is relating to the market you missed the point.