As organizations continue to embrace their Social Moment - the moment when they realize that social is mainstream and integral to business success - additional definitions of social business and facts are emerging.
The bottom line is that social business is grounded in an authentic interest and genuine intent to align the organization in support of the development and amplification of employee brands. Over time, through earned advocacy and influence, the corporate identity benefits.
Below are three definitions of Social Business:
"An organization that has put in place the strategies, technologies and processes to systematically engage all the individuals of its ecosystem (employees, customers, partners, suppliers) to maximize the co-created value." - Social Business Forum
“A social business harnesses fundamental tendencies in human behavior via emerging technology to improve strategic and tactical outcomes.” Peter Kim (Chief Digital Officer at Cheil Worldwide and co-author of Social Business by Design)
“Social Business is about moving beyond the social media tools you’re currently familiar with to unlock the potential of the people and gain a competitive advantage. Today, by combining social networking tools—internally and externally—with sophisticated analytic capabilities, companies are transforming their business processes, building stronger relationships among their employees, customers and business partners and making better decisions, faster. This is what makes a social business—embracing networks of people to create new business value and opportunities.” (IBM)
50% of employees want to share news and info about their company (Social Media and Sales Quota). By embracing and investing in the broader networks of internal and external customers, new business value and opportunities are created.