Social business: an opportunity to transform work and create value

This is a report on an IBM Institute for Business Value study, based on responses from more than 1,100 individuals and interviews with more than two dozen executives from leading organizations, that aims to suggest ways organizations can use social approaches to create meaningful business value. IBM conducted interviews of key executives of companies learning to embed their external social tools into core business processes and capabilities. The paper reveals that leading firms are using social approaches not only to communicate better with their customers, but also to share knowledge with their suppliers, business partners and, perhaps most important, their employees. Social business tools facilitate engagement in extensive discussions with employees, customers, business partners and other stakeholders and allow sharing of resources, skills and knowledge to drive business outcomes. Executives are concerned because social business represents a different way of thinking about employees, customers and how work is accomplished, as well as the potential risks of increased organizational openness and transparency. Leading firms are rapidly progressing to a substantive transformation in how they work, an approached called social business. Social business can create valued customer experiences, increase workforce productivity and effectiveness and accelerate innovation.