Social Business: What Are Companies Really Doing?

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Findings from the 2012 Social Business Global Executive Study and Research Project, conducted by MIT Sloan Management Review and Deloitte.

Read the full report: http://mitsmr.com/LCObcw

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Social Business: What Are Companies Really Doing?

  1. 1. In collaboration withRESEARCH REPORT 2012 FINDINGS FROM THE 2012 SOCIAL BUSINESS GLOBAL EXECUTIVE STUDY AND RESEARCH PROJECT Social Business: What Are Companies Really Doing? Read the full report online at sloanreview.mit.edu/socialbusiness2012
  2. 2. MIT SLOAN MANAGEMENT REVIEW 2012 SOCIAL BUSINESS GLOBAL EXECUTIVE STUDY AND RESEARCH PROJECTFIGURE 1The Importance of Social SoftwareThe importance of social software is expected to rise by 250% within 3 years.Read the full report at sloanreview.mit.edu/socialbusiness2012 © Massachusetts Institute of Technology, 2012
  3. 3. MIT SLOAN MANAGEMENT REVIEW 2012 SOCIAL BUSINESS GLOBAL EXECUTIVE STUDY AND RESEARCH PROJECTFIGURE 2The Importance of SocialSoftware by IndustryWhen asked how importantsocial software is to theirorganizations, those in theenergy and utility industriesbelieved it to be leastimportant, while those inMedia and Tech believed it tobe most important.Read the full report at sloanreview.mit.edu/socialbusiness2012 © Massachusetts Institute of Technology, 2012
  4. 4. MIT SLOAN MANAGEMENT REVIEW 2012 SOCIAL BUSINESS GLOBAL EXECUTIVE STUDY AND RESEARCH PROJECTFIGURE 3Why People Participate in Social MediaThe main reasons people participate in social media at work are to network,work more effectively and voice their opinions.Read the full report at sloanreview.mit.edu/socialbusiness2012 © Massachusetts Institute of Technology, 2012
  5. 5. MIT SLOAN MANAGEMENT REVIEW 2012 SOCIAL BUSINESS GLOBAL EXECUTIVE STUDY AND RESEARCH PROJECTFIGURE 4The Importance of Social Software by Company SizeSize matters: the smallest and largest companies perceive more value fromsocial software.Read the full report at sloanreview.mit.edu/socialbusiness2012 © Massachusetts Institute of Technology, 2012
  6. 6. MIT SLOAN MANAGEMENT REVIEW 2012 SOCIAL BUSINESS GLOBAL EXECUTIVE STUDY AND RESEARCH PROJECTFIGURE 5Industries with Open andInnovative CulturesMedia and technology industriestend to have more open andinnovative cultures relative toother industries.Read the full report at sloanreview.mit.edu/socialbusiness2012 © Massachusetts Institute of Technology, 2012
  7. 7. MIT SLOAN MANAGEMENT REVIEW 2012 SOCIAL BUSINESS GLOBAL EXECUTIVE STUDY AND RESEARCH PROJECTFIGURE 6The Importance of Social Business to the C-suiteCEOs, presidents and managing directors say social business is important totheir organizations at twice the rate of CFOs and nearly twice the rate of CIOs.Read the full report at sloanreview.mit.edu/socialbusiness2012 © Massachusetts Institute of Technology, 2012
  8. 8. MIT SLOAN MANAGEMENT REVIEW 2012 SOCIAL BUSINESS GLOBAL EXECUTIVE STUDY AND RESEARCH PROJECTFIGURE 7The Importance of Social Software in 3 YearsA strong majority of CEOs and CIOs believe social software will be importantto their organizations in 3 years.Read the full report at sloanreview.mit.edu/socialbusiness2012 © Massachusetts Institute of Technology, 2012
  9. 9. MIT SLOAN MANAGEMENT REVIEW 2012 SOCIAL BUSINESS GLOBAL EXECUTIVE STUDY AND RESEARCH PROJECTFIGURE 8The Importance ofSocial Software inMeetingChallengesSocial software isperceived to beimportant tomanagingcustomerrelationships andinnovating forcompetitiveadvantage.Read the full report at sloanreview.mit.edu/socialbusiness2012 © Massachusetts Institute of Technology, 2012
  10. 10. MIT SLOAN MANAGEMENT REVIEW 2012 SOCIAL BUSINESS GLOBAL EXECUTIVE STUDY AND RESEARCH PROJECTFIGURE 9The FactorsLeading toAdoption ofSocial SoftwareAdopting socialsoftwarerequires clearvision andstrongleadership.Read the full report at sloanreview.mit.edu/socialbusiness2012 © Massachusetts Institute of Technology, 2012
  11. 11. MIT SLOAN MANAGEMENT REVIEW 2012 SOCIAL BUSINESS GLOBAL EXECUTIVE STUDY AND RESEARCH PROJECTFIGURE 10The ObstaclesImpeding theAdoption ofSocial SoftwareThe top barriersto socialsoftwareadoption arelack ofmanagementunderstanding,no strongbusiness caseand too manycompetingpriorities.Read the full report at sloanreview.mit.edu/socialbusiness2012 © Massachusetts Institute of Technology, 2012
  12. 12. MIT SLOAN MANAGEMENT REVIEW 2012 SOCIAL BUSINESS GLOBAL EXECUTIVE STUDY AND RESEARCH PROJECTFIGURE 11Measuring the Effectiveness of Social Business InitiativesFew companies are measuring the effectiveness or success of their socialbusiness initiatives.Read the full report at sloanreview.mit.edu/socialbusiness2012 © Massachusetts Institute of Technology, 2012
  13. 13. sloanreview.mit.edu© Massachusetts Institute of Technology, 2012

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