This looks a very interesting projection. The value is mainly to be found from better productivity that will come from better collaboration using social tools.
All this may be true. But the wild card lies in what I term strategic social – not incremental tools for biz collaboration (which are important) but the much messier and so far little engaged possibility of public social media tools such as Twitter and Facebook. In general companies have seen presence in these media to be useful for advertising and customer relations efforts, and delegated that presence way down then line. The prospect of values alignment between customers, employees, and the corporation; and the ready flow of information via relationships across the organizational boundary; have been little tapped and not that much noticed. My sense is that the value lying there is in fact much greater, as it can, should, may, drive innovation and culture change within the company. Culture change/innovation is where, prospectively, all the value lies – in the context of rapid change.
Evidence of very low levels of hands-on engagement with social in the C-Suite suggests this value is a long way from being realized.
McKinsey Says Social Media Could Add $1.3 Trillion to the Economy – NYTimes.com.
- McKinsey Says Social Media Could Add $1.3 Trillion to the Economy (bits.blogs.nytimes.com)
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