1) The document discusses how organizations can create value through social media by strengthening relationships with customers and employees. It provides examples of companies that successfully use social media to engage communities and encourage collaboration. 2) New technologies and an emerging "digital native" workforce are driving changes in how knowledge is shared and work gets done. Organizations need to adapt by becoming more open and collaborative through social media. 3) When used strategically, social media allows organizations to build their brand, innovate with public input, make work fun, and develop ideas through global networks. This represents a shift from traditional hierarchical structures to more dynamic collaboration.

1. Creating value through social media --------- Taxi 020 Dr. Robin Teigland, aka Karinda Rhode in SL Associate Professor Stockholm School of Economics www.knowledgenetworking.org www.slideshare.net/eteigland Photo: Lundholm, Metro September 2010 ww.sse.edu

2. "...when the rate of change outside an organization is greater than the change inside, the end is near...." Jack Welch…

3. Did You Know: Shift Happens http://www.youtube.com/watch?v=cL9Wu2kWwSY How are these trends impacting you and your organization?

4. Human capacity cannot keep up… Information and knowledge Growth Human absorptive capacity Time Adapted from Cohen & Levinthal 1989

5. ”No one knows everything, everyone knows something, all knowledge resides in humanity.” networks Adapted from Lévy 1997

7. “Small World Phenomenon” by sociologist Stanley Milgram, 1967

8. The wisdom of the crowd Closed Expensive Complex Accurate Open Inexpensive Simple Close enough Accurate Hinton 2007

9. History tends to repeat itself….Innovation, financial crisis, industrial revolution, … Microelectronics Internal combustion engine Steam engine Third industrial revolution? Late 18th C Late 19th C Late 20th C Schön 2008

10. A new workforce is appearing… “Digital Immigrants” “Digital Natives” Company loyalty Work ≠ Personal Learning=Behind the desk Professional loyalty Work = Personal Learning=Fun and games Prensky 2001, Beck and Wade 2004, Mahaley 2008

11. Increasing number of social media Adapted from FredCavazza.net

13. Creating and successfully executing strategies under pressure

14. Managing cross-cultural conflict without face-to-face communicationTeigland 2010

16. Organizations span the full range of use but…. Organizational use No use One-way “broadcasting” Two-way conversations ..the majority are here Ban use Allow use Encourage use Employee use Teigland 2010

17. Positive return on social media for INC 500 companies No If you use social media, has it been successful (hits, comments, leads, sales)? 12% 88% Yes Barnes & Mattsson 2009

18. Threadless:What came first – the community or the company?

20. 96 of Fortune 100 as customers

21. 800 employees in 18 countries across globe

22. Facebook Fridays: One hour every Friday on Facebook to find fun and connect with co-workers, customers, family, and friends

23. Average employee age: 46

24. 29 year old Silicon Valley company

25. >90% of employees on FB16

26. "E-connection is processed in the brain like an in-person connection." http://slideshare.net/missrogue

27. Where is valuecreated by the firm? #1 Brand & Reputation Innovation FIRM Networks of relationships Kay 1993

28. #1 Brand & Reputation Innovation FIRM Networks of relationships Where is valuecreated by the firm?

29. Building brand/reputation throughconversations

30. Developing solutions together with the public http://snappatx.org/ in Austin, Texas

31. Using social media to make transit fun http://www.thetransitwire.com/2010/04/02/lighten-up-using-social-media-make-to-transit-fun/ http://www.youtube.com/watch?v=Ryne05wiQ_c

32. Encouraging idea development

33. Here comes the Immersive Internet O’Driscoll 2009

34. 25 Innovation workshops bring together users from across the globe Integrating the users in the development process Giovacchini et al. 2009

35. From the mobility of goods to the mobility of financial capital to … ...the “mobility” of labor?

36. Treat social media like any change project 1. Establish a sense of urgency 2. Form a powerful guiding coalition 3. Create a vision 4. Communicate the vision 5. Empower others to act on the vision 6. Plan for and create short-term wins 7. Consolidate improvements and produce more change 8. Anchor new approaches Kotter 1996

37. Empower and trust employees Policies written by IBM employees based on IBM’s Business Conduct Guidelines Apply internally and externally Available on ibm.com “blogging guidelines” Adapted from Poole 2008

38. Monitor what is said

39. Leadership moving forward…… Hierarchy Linear, static, process-based organization Heterarchy Dynamic, integrated collaboration networks If you love knowledge, set it free… Teigland 2010

40. Thanks and see you in world! Karinda Rhode aka Robin Teigland robin.teigland@hhs.se www.knowledgenetworking.org www.slideshare.net/eteigland Photo: Lindholm, Metro

41. Interested in learning more about Virtual Worlds?