initiative for social business innovation (isbi)
DESCRIPTION
Proposal for establishing a research & innovation hub for advancing Social Business in Malaysia and the rest of ASEAN. The proposal defines Social Business, looks at what leading players are doing in the arena, discusses current research and case studies, and closes with activities for ISBI, as well as potential partners.TRANSCRIPT
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?
