So I am rather curious.. Why do companies even bother, or finally decide on implementing Enterprise 2.0? I am sure, it is only in our human nature to reject new things/technology, especially when we are all in our comfort zone in that sense. So, seriously why bother at all? When that might cost some companies more money? Or not, in the long run..
Yes, in case you did not realised, to me, it's all about the money($$$)! However, what I found out was not exactly the case, really. There are way more intangible factors than the big dollar sign.
Ross Dawson (2009) in implementing Enterprise 2.0 identified 4 key benefits.
They are mainly: productivity and efficiency, staff engagement, knowledge, and reputation.
Photo credits by : Datamation.com
Some examples of the benefits :
Productivity and efficiency - IBM spent more than USD 700, 000 on tagging content instead of sticking to the traditional search. They knew it was a success when on the average, their staff save a quarter of a minute when researching, which ended up in them saving close to USD 4.5 millions per year.
Staff Engagement - McDonalds(of course, the ever famous one! I believe this is a childhood brand for everyone of us eh, regardless of where we come from! ;) ) They had apparantly created a real-time blog and platform, whereby staff, suppliers and franchises could communicate with each other - all in real-time! How amazing is that, instead of our daily-boring-phone-calls/emails!!!
Reputation - Redbull on facebook (that energy drink that we always never fail to see during a sports event, since they are normally the sponsors!!(or in Singapore at least!) *slurp*) They had set up a facebook account and have close to 30 million fans all over the globe. They have basically gained success in acceptance by their fans.
As for the risks..You know how they say, once you have been working on the benefits, it is just so difficult to come up with the risks and the negatives? It is just so true!
Anyway, I have managed to do my research and have come up with a few!
I still very much love to quote from Ross Dawson, as I think they are really awesome.
As quoted by Ross Dawson, he mentioned that the key risks of implementing Enterprise 2.0 are: Security, Loss of Control, Reputation, Reliability, Productivity, and Resources.
Also, may I add: in my opinion, I feel that there are a few more risks, like Regulation of social media within an organisation. Practically, I do not think that anyone in the organisation would be in charge of regulating the content, unless they are paid to do the job. For example, sometime back, I have read articles about an employee in the company using the company's fanpage to say not very nice things about the employee's boss.. Although that might be true, she was then fired in the end. Yes, she may deserve it.. But think about the psychological impact that might have on her... She will or might even find social media repulsive from then on.
Photo credits by : Pinastro on Wordpress
Personally, like if I ever decide to have my own blogshop, I definitely know that implementing social Tools into my online business would not cost anything. So, why not?! I might sound like a downright cheapskate, but who cares, right? Any business person would be all about costs savings though!
Some links that I thought are worth reading!
How to fail when using Internet Social Media
Implementation of Enterprise 2.0 by Océ
Hi,
ReplyDeleteBusiness tend to move to where the money is but moving out of the comfort zone is a hard thing. Many businesses uses Twitter and Facebook and the main social media platform but what if social media changes much faster in the future? Would businesses see it as a risk and financial liability?
That is a pretty good question, Sukshan!
DeleteI guess with Technology as it is, it is always changing ever soo quickly. But then again, surely whenever it changes or advances, surely that would only add more value to businesses, provided that they play by the rules of technology policies and all.
Hi Yvonne,
ReplyDeleteYou just need to make sure you deliver high quality services if you're going to use social media, as its the first point of complaints and flaming for the public these days :P
Indeed. That is a very good point. With technology these days, 'arrows' of complains shoot quickly and crazily anywhere and anytime! Same goes for good reviews.
DeleteHey Yvonne, Adam Hijazi posted a good example of what one person who feels mistreated can accomplish. Here is a link to the article!
Deletehttp://adamhijazi.wordpress.com/2012/08/19/enterprise-2-0-a-double-edged-sword/
Good Post Yvonne.
ReplyDeleteI've also mentioned Ross Dawson in my post this week. I tried to explore some of his key benefits for E2.0 using some personal samples. When you have chance take a look (http://charlestontelles.wordpress.com/).
Cheers,
Thank you, Charles.
DeleteIndeed. Ross Dawson is a quality expert in Enterprise 2.0.
Hello Yvonne,
ReplyDeleteThis blog post has been a wonderful read. It was very insightful and the examples that you have given under benefits were quite fascinating to read about. Every company/business needs to embrace the use of enterprise 2.0 yet still be prepared with a fix if things turn upside down.
Feel free to read/comment on my blog. http://vatsalqutinb346.wordpress.com/
Hi,
Deletethank you.
Indeed so. Companies who do not implement E 2.0, are just going to lose out eventually, since technology is always advancing, so if they were not to keep up, they will only then lose out.
I like your examples of benefits and the references to different organisations. I also agree that the social media content should be moderated. Since the introduction of Enterprise 2.0, new roles were created within organisations (just Google Social Media jobs). It’s great to see that those organisations acknowledged the importance to manage their online presence, and of course created new job opportunities.
ReplyDeleteHey Karen!
DeleteI guess, also, rather difficult from the company's point of view, unless they are willing to spend that extra money on another headcount, who is paid to moderate social media. Otherwise, I highly doubt anyone will do it, for the love of their company, practically and realistically.
I think that you have captured exactly what enterprise 2.0 is about with your red bull mention. You are right, you can barely watch a sporting event without seeing red bull splashed everywhere whether it is the Internet / TV / or social media. Why do you think they have had such a successful social media campaign?
ReplyDeleteAdam(http://www.adamhijazi.wordpress.com)
Hey Adam,
ReplyDeletethank you. That is true indeed. Advertising is equally important as well.
So is social media. No one can ignore the power of social media in modern times like this.