Somesso Risk Talk on Social Media and Collaboration in Finance

Social business design and management Collabora3on in Finance Somesso Risk Talk 2009

Protec3onism in ﬁnance is strong

Not used to dealing with people as assets

Isn’t it easier to just to do this?

Risk #1 The granular nature of the internet

On the outside people are gathering

And informa3on is ﬂowing

Aﬃnity is stronger than structure

The net worth is in the network

A lot of people are wondering what happens next

The key to success is leadership (aka crea3ve vision)

The kind that can inspire and spread ideas

Outreach leads to social advantage

A new kind of power

SoQ power

That can work with the force coming towards it

Source: Promise Index 2009 That can align promises and experiences

And develop crucial elements for social growth Visceral Business - Anne McCrossan - www.visceralbusiness.com

Risk #2 New forms of emergent value

The economics of automated transac3ons

decision making strategy innova3on 80% tacit communica3on advice social Value that’s been previously hidden learning Source: Karen Stephenson NeVorm

Rela3onships Digital transparency is crea3ng reputa3onal value

Goal Metric Value Learn # of customer feedback Impact of faster, beer insights Dialog # of comments Greater loyalty # of referrals Faster, more closes Help # of issues addressed Increased sa3sfac3on Innovate # of implemented Faster development ideas Charlene Li – Altimeter Group – Creating Winning Social Media Strategies

Brands are public property and the conversa3on has value

How to look aQer this guy

high intellectual understanding bystanders champions weak links loose cannons low low emotional commitment high

Risk #3 There’s no such thing as no impression

Everyone has a digital footprint, or needs to have one

people Accommodate lose:win Collaborate win:win Compromise win some:lose some Avoid lose:lose Compete win:lose task ask Source: Keirsey Temperament Sorter tell

people amiable expressive analy3cal driver task ask Source: Keirsey Temperament Sorter tell

1 4 Downloading Genera3ve listening quick ﬁxes, reac3ons regenera3ng sources of self and purpose 2 3 Factual listening Empathic listening redesigning policies reframing values and beliefs New management skills, richer communica3on Source: C. Oo Scharmer Prescencing Ins3tute

Risk #4 ShiQ in corporate and personal value

The value of each person in your address book is $948 When friends of your friends are not friends of each other or belong to the same social group = 276.64% increase in monthly revenues One strong link to your manager is worth $588.2/m One weak link to your manager costs $98.48/m Having managers in a project is correlated with team performance ini3ally Too many managers in a project is nega3vely associated with team performance Strong 3es to execu3ves is posi3vely correlated Aributes of your network human capital, power and status have a unique rela3onship with work performance. Where personal worth and corporate worth combine The Evolution of Social Software in IBM. Small Blue Research Study. http://smallblueresearch.ibm.com

As part of the brand as a single unifying thought Visceral Business - Anne McCrossan - www.visceralbusiness.com

Risk #5 Not re‐evalua3ng an evolving iden3ty

Posi3oning ﬁnancial services tangible assets intangible assets 1 2 3 4 5 who you are products skills culture mission and and and and and what you do services approach personality cause u3li3es industrial commercial social causes organiza3ons organiza3ons organiza3ons mining retail mining energy charities housing pharma trade guilds councils and public services transport auto travel and leisure food and beverages membership organizations financial services consumer electronics fmcg media and cultural institutions technology government Visceral Business - Anne McCrossan - www.visceralbusiness.com

credible and compelling The social space demands strong posi3oning strategies

geek hero credible credible and compelling loser poser compelling

Including how purpose and product beneﬁt the ecsoystem

Opportunity to leverage intangible assets like culture

And develop robust consumer‐centric business models Alex Osterwalder – Business Model Generation http://www.businessmodelgeneration.com

Rachel Happe – The Community Roundtable

Core aributes of a sustainable social business Visceral Business - Anne McCrossan - www.visceralbusiness.com

An insurance policy and safety net

Photos and credits Slide 1 : Spin by conorwithonen hp://bit.ly/32qpAb Slide 2 : Bank Vault – 003 by Jason Bethchel hp://bit.ly/29iDYW Slide 3 : Image source not known Slide 4 : Sandbags by adamhenning hp://bit.ly/29iDYW hp://bit.ly/1QoEgd Slide 6 : P1050180.JPG by l.million hp://bit.ly/2FBEOa Slide 7 : Where does my money go? by jwyg hp://bit.ly/38VoSz Slide 8 : Image source not known Slide 10: Direc3on by alexhouston hp://bit.ly/oDRYf Slide 11: Are You S3ll Up For It, Senator? By ILIGHT hp://bit.ly/26kUpV Slide 12: Barack Obama @ Twier by comicbase hp://bit.ly/3nnHt3 Slide 14: Hearst Corporate HQ by Chris3an Lau hp://bit.ly/GISXL Slide 15: Honk!!! Honk!!! Honk!!! :))) by Denic Colee!! hp://bit.ly/1KtNiC Slide 16: Judo Throw by ChrisHardyPhoto hp://bit.ly/4ap4kb Slide 20: Image source not known Slide 24: hp://hsbcreviews.com/ Slide 25: Image source not known Slide 26: Passively bystanding by Lo Li hp://bit.ly/odsab Slide 26: The weakest link by Darwin Bell hp://bit.ly/FAPcN Slide 26: Target Day 2 by Mikey Sachs hp://bit.ly/O09Os Slide 28: Footprints by Ben Garver hp://bit.ly/BY0HJ Slide 29: Day 345 ‐ Turning my back on things I don't want to face by Ginger_Blue hp://bit.ly/1v0FdI Slide 29: With sexy hands…by Nau hp://bit.ly/KtGDG Slide 29: Saludo al público antes de 3rar by Yuneta Negra hp://bit.ly/32rMhD Slide 29: Wall Of Peace – Moscow by Jeff Bauche hp://bit.ly/4slFak Slide 29: Ants imagery source not known Slide 30: Smile by jiggskykeken hp://bit.ly/2cvjqJ Slide 30: Work in Progress by Katherine Treffinger hp://bit.ly/FfT0u Slide 30: Post Office by Suzy Pym hp://bit.ly/FW8nD Slide 30: Driving light by Crankydragon hp://bit.ly/19jNBC Slide 34: Reputa3on Stement of Account by Jason Tester 2004 Slide 35: Contribu3on text via @Sparkbouy and IBM Slide 40: New spectacles by Steve Green hp://bit.ly/LvyNa Slide 40: Time to play by qcomplex5 hp://bit.ly/e0qsD Slide 40: 4 by 3lileboyz hp://bit.ly/2R5asI Slide 40: My Name is Not Clark Kent! Carlos Norbero hp://bit.ly/JFlIl Slide 46: Web 2 by Aldo Trim hp://bit.ly/2aNQ0b

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Somesso Risk Talk on Social Media and Collaboration in Finance

by Anne McCrossan on Nov 05, 2009

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Somesso Risk Talk on Social Media and Collaboration in Finance — Presentation Transcript