Preliminary thoughts on building a research & innovation hub for
Malaysia & ASEAN
INSTITUTE FOR SOCIAL BUSINESS
INNOVATION (ISBI)
DEFINITION: SOCIAL MEDIA
“Social media are platforms & tools to share content, profiles, opinions, insights, experiences, perspectives & media via online interactions.”
• Social Media is the platform/tools• Social Networking is connecting on social media
platforms• Social Media Marketing is how organizations
connect with prospects & customers
CONFUSED?
Social media today
Social Media Marketing
BUSINESS TODAY
Social Business
Innovation
Leadership
Internal collaboration
Marketing
HR
Sales
Customer service
R&D
Supply chain
Production
Strategic planning
BUSINESS TOMORROW
DEFINITION: SOCIAL BUSINESS
“An organization with the strategies, technologies & processes to systematically engage its ecosystem (employees, customers, partners, suppliers) to maximize co-created value”
• Deepen customer relationships• Drive operational efficiencies• Optimize the workforce
SOCIAL BUSINESS RISES• IBM: Strategic initiative• MIT & Deloitte: SB
“Innovation Hub”• McKinsey & Co.: “Big Idea”• Forrester: 61% annual
growth rate to $6.4 billion market by 2016
• California Institute of Social Business @ Calif. State University
• Fast Company: “Move Over Social Media; Here Comes Social Business”
CASE STUDY: CHINA TELECOMWHO: With 200,000 employees, China Telecom (CT) is in 31 provinces, the Americas, Europe, Hong Kong NEED: New services to leverage new 3G licenseSOLUTION: Created unified innovation platform & process for employees, partners and customers to develop & filter ideas about 3G servicesBENEFITS: First idea generated 10 minutes after launch• Immediate & inexpensive consumer market research• Reduced risk by learning acceptance of new ideas• Enabled new strategy of “customer-centric informatized
innovation ”
MCKINSEY: PAYOFFS
MCKINSEY: PAYOFFS
MCKINSEY: PAYOFFS
We found statistically significant correlations between self-reported corporate-performance metrics & certain business processes that networked enterprises use …. [T]hese organizations use social tools to scan external environments. Second, they use them to match employees to tasks: internal wikis & social networks help project leaders to identify employees with the most appropriate skills & to assign these employees to the projects for which they are best suited.
“How social technologies are extending the organization,” McKinsey Global Institute
Business
SocietyTechnology
Customers/consumers
Institute of Social
Business Innovation
VISION
MISSION
Based on innovative research & other activities, the ISBI will develop & support an active & sustainable SB information exchange to ensure performance with a purpose among business, academic & communities in Malaysia & ASEAN.
“
”
GOALS• Support research & knowledge-creation: Provide
systematic & rigorous knowledge to understand & anticipate changes in the Social Economy as well as the implications & impact of Social Business
• Serve as a collaborative hub: Be a collaborative center of information-exchange that benefits stakeholders as well as provide data & insights to guide governmental & business strategies
• Develop SB solutions: Present strategies, policies & information to enable competitiveness & profitability
• Benefit society: Ensure Social Business provides equitable benefits to all society as well promote environmental & other sustainability
Management• Community • Content• Marketing
(social media, etc.)
• Customer engagement
• Monitoring & measurement/analytics
• Product & value development
• Supply chain
People & processes• Change
management• Internal &
external collaboration
• Training & education
Technology• Enterprise &
legacy integration
• Mobility• Security
Society • Social value • Legal• Ethics• Privacy • Accessibility/
inclusivity
AREAS OF FOCUS
• Research: Deliver research & analysis on Social Business trends, best practices, adoption, etc.
• Publishing & promotion: Disseminate research & information on Social Business issues & innovations
• Collaborative & other events: Provide forums (conferences, seminars, etc.) to discuss issues, trends & practices
• Training & education: Develop curriculums & material for training & deliver training in a variety of formats
• Networking: Help SB professionals, consultants, academics, etc. exchange ideas about Social Business
EDUCATION, ETC• BASIC
Creating Brand ambassadors Social Sales: Selling on Facebook
• INTERMEDIATE Community Management: Engaging
Prospects & Customers Building A Social Business Strategy,
Inside & Out• ADVANCED
Social Business: Creating Connected Organizations
Operational Excellence thru Social Tools
POTENTIAL PARTNERS
…and more
NEXT STEPS• Incorporate input & feedback
UTM faculties Potential partners
• Develop content strategy Web, blog, etc
• Develop research topics & resources• Present information-sharing programs
Breakfasts, etc. • Work on Social Business promotion
IDEAS, INSIGHTS & INPUT• What can we improve?• What about current
offerings related to social technologies?
• What shouldn’t we do?• How could the ISBI help
you?
