Initiative for Social Business Innovation (ISBI)

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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.

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Initiative for Social Business Innovation (ISBI)

  1. 1. INSTITUTE FOR SOCIAL BUSINESS INNOVATION (ISBI)Preliminary thoughts on buildinga research & innovation hub for Malaysia & ASEAN
  2. 2. DEFINITION: SOCIAL MEDIA“Social media are platforms & tools to sharecontent, 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
  3. 3. Socialmediatoday
  4. 4. BUSINESS TODAY Social Marketing Media
  5. 5. BUSINESS TOMORROW Leadership R&D Internal collaborationStrategicplanning Social Business Marketing Innovation Production HR Supply chain Sales Customer service
  6. 6. DEFINITION: SOCIAL BUSINESS“An organization with thestrategies, technologies & processes tosystematically engage its ecosystem(employees, customers, partners, suppliers) to maximize co-created value” • Deepen customer relationships • Drive operational efficiencies • Optimize the workforce
  7. 7. 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”
  8. 8. CASE STUDY: CHINA TELECOMWHO: With 200,000 employees, China Telecom (CT) is in31 provinces, the Americas, Europe, Hong KongNEED: New services to leverage new 3G licenseSOLUTION: Created unified innovation platform &process for employees, partners and customers todevelop & 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 ”
  9. 9. MCKINSEY: PAYOFFS
  10. 10. MCKINSEY: PAYOFFS
  11. 11. 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
  12. 12. VISION Business Customers/con sumers Institute of Social Business InnovationTechnology Society
  13. 13. MISSIONBased on innovativeresearch & otheractivities, the ISBI willdevelop & support anactive & sustainable SBinformation exchange toensure performance with apurpose amongbusiness, academic &communities in Malaysia &ASEAN.
  14. 14. 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
  15. 15. Management People & Technology Society• Community processes • Enterprise & • Social value• Content • Change legacy • Legal• Marketing management integration • Ethics (social • Internal & • Mobility • Privacy media, etc.) external • Security • Accessibility/in• Customer collaboration clusivity engagement • Training &• Monitoring & education measurement/a nalytics• Product & value development• Supply chain
  16. 16. 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
  17. 17. 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
  18. 18. POTENTIAL PARTNERS …and more
  19. 19. 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
  20. 20. 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?
  21. 21. THANK YOU! Nick Wreden nickwreden@ic.utm.my 019-243-5856

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