Group items tagged

If your organization fails to invest in socially responsible measures, or even if anything about your business - such as a faked viral marketing campaign - is perceived to be phony, you will be found out. You will be tweeted about, and a Facebook Causes group will be created against you. As many corporate casualties have discovered, the result of such a campaign can be catastrophic to your firm's reputation and ultimately to its bottom line. Therefore, to avoid a public relations or financial disaster, integrity needs to be part of the DNA of every organization - not just to secure a healthy business environment, but for the organization's own sustainability and competitive advantage. It's worth noting here that I believe the word "integrity" is preferable to the expression "corporate social responsibility," as the latter puts too much emphasis on the notion that corporations should do "good" in the world and be "good" citizens out of some moral or ethical imperative. Of course, that is absolutely true. But what's new - and what organizations need to focus on - is the idea of integrity, as driven by transparency. Without it you cannot build trust, and trust is essential for competitiveness in this new environment. To put it bluntly, regardless of the moral arguments, there are now some hard, bottom-line business reasons for baking integrity into every company.

Although it's difficult to predict what the future Internet will look like, it's probably safe to say that certain trends we've seen during the past decade will continue. This means that the Internet will become further integrated into our daily lives, becoming more ubiquitous, available, autonomous, and mobile. The engineers who are guiding the Internet in this direction are doing so by developing mobile agents, which are pieces of software that can autonomously migrate from one computer to another and interact with each other.

"Harvard Business Review Analytics Services has released a study on the impact of social media. Facebook, Twitter, Linkedin, blogs etc. offers organizations the chance to join conversation with millions of customers around the globe every day. But even though social media has great potential, many organizations do not properly integrate social media in their marketing and communication efforts, or only use it as a one-way communication channel instead of listening, analysing, and driving conversations. The survey was conducted among HBR magazine and newsletter subscribers during July 2010. The participating organizations were mainly based in the US and in Asia."

Gartner's predictions include a very interesting statement, that "by 2013, 15% of BI deployments will combine BI, collaboration and social software into decision-making environments." What this means is that social media is starting to be integrated tightly with hard-core business intelligence functions in support of decision making. 

The arrival of Generation C will have an impact comparable to that of the Industrial Revolution, but it will take place much more quickly. For managers, it is no longer sufficient to plan for the next few quarters, or even the next few years. Companies that aren't willing to determine their strategies for the longer term - 10 to 15 years out - are putting their business models and value chains at risk. Executives must begin now to develop an agenda that includes an analysis of the capabilities and workforces they will need in the next decade and beyond. A critical step will be to make sure that the organization as a whole understands the coming changes, and that there are already people within the organization who are living these changes now, who don't perceive them as a threat, and who can help integrate them into the organization's business plan.

The Grocer recently published its Top 100 advertisers report and showed that Coca-Cola cut ad spend by 6.6% in 2010 and invested more in social media. A spokeswoman at Coca-Cola said that while TV is still an important medium from promoting their brands,"many of our recent advertising campaigns and promotions have also utilised online facilities such as Facebook and YouTube more". With the launch of Coke Zone, a social media oriented site which offers Coke drinkers access to exclusive content and rewards, Coca-Cola has clearly realised the value of integrating offline and online marketing.

The principles of sustainability need not be at odds with a classic education in business, since environmental and poverty issues likely will be among the biggest challenges for tomorrow's leaders of industry, according to published research from a University of Illinois expert in poverty and subsistence marketplace behaviors.