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A presentation for Sweden's Public Transportation organizations (Kollektivtrafik) on the impact of social media on business and the future of the transportation industry.
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Creating value through networks and social media
Dr. Robin Teigland, akaKarinda Rhode in SL
Associate ProfessorStockholm School of Economics
www.knowledgenetworking.orgwww.slideshare.net/eteigland
Photo: Lundholm, Metro
November 2009ww.sse.edu
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- You on Youtube?- No, Hulu and Itunes, but I lost the USB for my MP3.
It’s MIA, so is my GPS.- This PDF won’t show up on my LCD. - Call your ISP.- I could send them an SMS or look it up on the cookie wiki. So you on Google now?- No, Bing. - You are such a Yahoo! Oh, just got poked on Facebook.- From?- My mom wants to know if she can use Paypal for
Netflix.- Did she ever sell her Imac on Ebay?- No, but she got WiFi for the Xbox.- Can we have a real conversation now?- Sure, can we have it in Second Life?NPR, Internet’s 40th Birthday, 2009
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Did You Know: Shift Happenshttp://www.youtube.com/watch?
v=jpEnFwiqdx8&feature=fvst
What does this mean for organizations?
Growth
Time
Information and knowledge
Human absorptive capacity
Human capacity cannot keep up…
Cohen & Levinthal 1989 5
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”No one knows everything, everyone knows something,
all knowledge resides in humanity.”
networks
Adapted from Lévy 1997
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The wisdom of the crowd
ClosedExpensiveComplexAccurate
OpenInexpensive
SimpleClose enough
Adapted from Hinton 2007
Accurate
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Leveraging external resources to find solutions and solve unsolved problems
A shift from being problem solvers to solution finders
History tends to repeat itself….Innovation, financial crisis, industrial revolution,
…
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Steam engine
Internal combustion
engine
Microelectronics
Late 18th C Late 19th C Late 20th C
Schön 2008
Third industrial revolution?
A new workforce is appearing…
10Mahaley 2008, Merrill Lynch 1999, Beck and Wade, Prensky
“Digital Immigrants”“Digital Natives”
Company loyaltyWork ≠ Personal
Learning=Behind the desk
Professional loyaltyWork = Personal
Learning=Fun and games
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Building skills in virtual environmentsMy CV
• Leading a virtual team of 30 individuals from across the globe
• Creating and successfully executing strategies under
pressure• Managing cross-cultural conflict
without face-to-face communication
The older generation of leadersAs of June 2009, of the Fortune 100 CEOS….2 CEOs have Twitter accounts but no activity13 CEOs on LinkedIn but only 3 have >10
connections 19 CEOs on Facebook but <15 friends75 CEOs on Wikipedia but nearly 33% of these
have limited or outdated information0% have a blog
14http://www.slideshare.net/shazza/fortune-100-ceos-and-social-media?type=presentation
1
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Increasing pressure on “traditional” organizations
Formal organization/ Hierarchy
Social organization /Heterarchy
Teigland et al. 2005
Top management “fears” ….What about leakage of company secrets
outside the firm?What about social overload and role
conflict?Will employees conduct good
organizational stewardship?How do we measure and validate the
value of web 2.0?Web 2.0 is of a more grassroots nature – implementation in traditional hierarchical organizations results in tension between
employees and managementHustad & Teigland 2009 17
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My company has blocked my computer from
accessing most of the social media sites. But I feel so cut off from my network. So, now I just
connect through my phone.
But…. management cannot mandate social relationships
Teigland & Hustad 2009
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Develop company guidelines for using social media internally and
externally
Trust your employees, and do not ban social media Use wikis to enable employees to create company
guidelines, eg IBM, http://www.ibm.com/blogs/zz/en/guidelines.html
Yahoo’s guidelines− Be respectful of your colleagues− Get your facts straight− Provide context to your argument− Engage in private feedback
When trusted, employees feel empowered to do the right thing!
Usage of Web 2.0
20McKinsey Quarterly, Sep 2009
1088 respon
Building relationships through twitter at Zappos
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Motorola Q – Creating content
22
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Creating new and strengthening existing relationships through Facebook
• #1 Applications Lifecycle Management (ALM) & business mashup
• 96 of Fortune 100 as customers
• 800 employees in 18 countries across globe
• Facebook Fridays: One hour every Friday on Facebook to find fun and connect with co-workers, customers, family, and friends
• Average employee age: 46• 27 year old Silicon Valley
company• >90% of employees on FB
Launching new products, stores, etc.
24http://mashable.com/2009/11/25/facebook-marketing-ikeas-genius-use-of-photo-tagging/
Informing and engaging the public
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What about business results?Survey of 1700 execs worldwide by McKinseyValue from Web 2.0 internal use (%
respondents)• Increased speed of knowledge access – 68%• Reduced communication costs – 54%• Improved access to knowledge experts – 43%• Reduced travel costs – 40%• Improved employee satisfaction – 35%• Decreased time to market for products/services
and increased innovation – 25%• Increased revenue – 14%
Increased impact if web 2.0 integrated into employees daily work activities
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McKinsey Quarterly, Sep 2009
http://www.digitalbuzzblog.com/social-media-roi-examples-video-by-socialnomics/
Intuit’s Brainstorm
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http://billives.typepad.com/portals_and_km/2009/10/intuit-brainstorm-offers-innovation-management.html
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http://bits.blogs.nytimes.com/2009/06/12/dell-has-earned-3-million-from-twitter/
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The speed of information: The power of social media
http://www.youtube.com/watch?v=t8XxcOj3Seo Fortune, Rey 2008
Monitor social media sites and react in a timely fashion
30Friedman 2009
31http://www.socialmedia.biz/2009/11/02/why-i-love-public-transportation-and-hate-hp/
But check out HP’s
responsiveness!
NextMuni.com
32
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http://mashable.com/2009/09/29/social-media-transportation/
34http://blog.ted.com/2009/03/sixth_sense_demo.php
Towards 3D InternetLe
vel o
f Int
erac
tion
Time
Individual Web 1.0 Thinking
Mosaic, Prodigy, Compuserve, AOL,
Netscape
Connected Web 2.0 Thinking
Facebook, Friendster,
Yahoo, Blogger, Wikipedia, eBay,
Typepad, LinkedIn. Amazon, MySpace,
Textamerica, Delicious, HubPages
SENSORY3D Internet
ThinkingSecondLife, There
Active Worlds, Entropia,
SimsOnline, Club Penguin, Habbo,
ToonTown,World of Warcraft,
3D planets, VSlide,
Protosphere
Hamilton 2008 35
The future of 3D internet
Before the first plate of aluminum is even bent for production, the
passengers will have flown the plane, the crew will have serviced the plane,
and the pilots will have flown the plane.
CEO of Boeing supplier
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Innovation workshops bring together users from across the globe
What are the implications for traditional industries?
“Soon all fashion designers will be originating their designs and
managing the production in virtual worlds….Why such a dramatic change? Economics, pure and
simple.”Shenlei Winkler,
Director Fashion Research Institute
Learn how to become an SL Fashion Designer at Fashiontech.wordpress.com/ 42
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Tomorrow’s education & training?
Improving virtual teaming cross-cultural skillsDesigned by Duke CE and SSE inworld
Task: To build a bridge in your virtual team
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From the mobility of goods to the mobility of financial capital to …
...the “mobility” of labor?
46
DNAug 20, 1996
So, what does all this mean?
Organizations have to ….develop their employees’ network leadership
skills to build their networks globally - both inside and
out leverage social media
− To win the war for talent − To innovate for continuous competitive
advantage− To build their reputation and brand
cultivate an open, knowledge sharing culture47
If you love knowledge, set it free…
Thanks and see you in world!
Karinda Rhode
aka Robin [email protected]
www.knowledgenetworking.org
www.slideshare.net/eteigland
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Photo: Lindholm, Metro