InformationWeek Financial Services Special Reports

Social Business

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[Social Business] middleman and without repercussion. The environment is safe and collaborative, where failures are viewed as part of the learning experience. That said, the agile business adopts a "try it, fix it, try it again" iterative improvement philosophy. >> Shared accountability: Social businesses share complete interdepartmental performance metrics as a means to foster collaboration. Social businesses extend performance metrics to customers and partners with connection to both people and products. >> Reflective and iterative: A social business continually challenges existing assumptions and communicates a desire for midcourse corrections or pivots in advance of execution. In a highly collaborative business, experiments are welcomed; innovation is not about better sameness. >> Social people and social products: Every information source in the ecosystem should be used to help employees make better, more-informed decisions. Information sources include people and products or machines. The network social graph of an advanced social business includes both people and products. In the near future, wearable products, sensor technology, and machine-to-machine communication will include social channels. In summary, a social business is much more than a business that uses social media. Social collaboration success is more a cultural and philosophical achievement than technology adoption. Collaboration is hard work, but it doesn't have to be complex work. In fact, collaboration can simply start with four words: What do you think?p 28

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