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Presentation to Independent Trustees on Social Media and the Fourth Technology Revolution.
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Redington13-15 Mallow StreetLondon EC1Y 8RD
T. 020 7250 3331www.redington.co.uk
Social Media and Business InnovationChairman: Mike AnthonySpeaker:Robert Gardner
Social Media and Business Innovation
2
Lets begin by moving some cheese
Technology Evolution
Social Media
Governance 2.0 – Building a Pensions Community
Social Media and Business Innovation
Contents
Lets begin by moving some cheeseHem, Haw, Sniff, Scurry
A short story about;
1. Two humans – Hem and Haw2. And Two Mice – Sniff and Scurry
who live in & Maze.3. The Maze is a metaphor for life.4. The Cheese is a metaphor for
food, money, happiness.
Mainframe
• 1970s
PC
• 1980s
Internet
• 1990s
Social Networking
• Today
TechnologyThe Fourth Revolution
Apollo 11 iPhone X1million more powerful
“In the technology industry people always overestimate what you can do in one year and underestimate what you can do in one decade.”
Marc Benioff, Founder and CEO salesforce.com
TechnologyThe Fourth Revolution
“it is not the strongest of the species that survive, nor the most intelligent, but the most responsive to change”
Charles Darwin – Origin of the Species (1809 – 1882)
TechnologyResponsive to change
The collective action of beehives, photographed by Ted Horowitz.
Yochai Benkler dubs it “the wealth of networks" Howard Rheingold's term is "smart mobs." It's the idea of technology-enabled collaboration … and it's making us all smarter.
The Rise of Collaboration
Jimmy Wales began Wikipedia on 2001 based on the willingness of people to share their knowledge.
…one of the most-referenced, most-used repositories of knowledge on the planet, with more than one million articles in English (compared with the Britannica's 80,000) and hundreds of thousands in dozens of other languages, all freely available.
The "wiki" in the name refers to software that allows anyone with Internet access to add, delete or edit entries. This has led to controversies about the reliability of the information, prompting the Wikimedia Foundation to set tighter rules for editors, while still keeping Wikipedia open-source.
"Wikipedia represents a belief in the supremacy of reason and the goodness of others. ...From the respectful clash of opposing viewpoints and the combined wisdom of the many, something resembling the truth will emerge. Most of the time."WIRED
http://www.wikipedia.org/
The Free Encyclopaedia
Source: The Facebook Era – Clara Shih
Social Media a new web experience that transforms the way we:
Work Learn Interact
People Centric ApplicationsConform to our Relationships and Identities
Technology Centric Applications
PC Email Mobile
Paradigm ShiftSocial Media
The Rise of Social MediaFT: Twitter
The Rise of Social MediaThe changed nature of internet usage in the workplace
The convergence of Broadcasting & Communications Media
Social Media
Years
1
13
38
Actual Statistic: 9 months - 100 million users
Growth of Different forms of mediaTime taken to reach 50 million users
1990 1994 1995 2000 2001 2003 2004 2005 2006
Social Media: Timeline
2009
Stage 1 - 2004 Stage 2 - 2005 Stage 3 - 2006
Harvard Only High School Networks Everyone
Stage 4 - 2009
300 million users
Social Media: The Growth of Facebook
Social Media: Business Applications
Social Media: Business Applications
Social Media: Business Applications
Twitter: Business Applications
20
Chairman
Employer nominated
CIO
Employee nominated Independent
Actuaries
Lawyers
Investment Consultants
Asset Managers
Corporate Sponsor
Trustee Board
Filtering through the noise
Investment Banks
Regulator Product Providers
21
How are trustees reactingRedington recently hosted 100 trustees...
Lack of expertise
Lack of accountability
Not enough time
Focus on past, not future strategy
Making decisions takes too long
Implementing decisions takes too long
...lonely...
Too much information
Governance 2.0: Building a Community
23
We want one place to access all information
We each have defined roles
I can work at my own pace, when I have
time
We have more regular meetings so spend more time looking
forward than recapping the past
I feel better informed to make
decisions
We have a small working group that
focuses on implementation
I can share experiences with
other trustees
I can see what others think about
solutions
We use independent trustees to challenge the board, advisors, managers
etc
What trustees are saying
Community Better governance
Smaller implementation groups
More regular meetings
Define roles
Retain control
Targeted education
In your own time
Hear others’ views on providers
Share experience
Another way
Social Filtering
Amount of NoiseD
istr
ibuti
on C
apac
ity
Low
Hig
hLow High
Source: The Facebook Era – Clara Shih
Internet Media
Social Media
PC Media
Traditional (non-digital)
Media
...continuous improvements in communication and technology.
....explosion of social media and online work will continue to blur geographic boundaries and will enable you develop human and social capital in new ways.
= New potential for innovation and collaboration.
“it is not the strongest of the species that survive, nor the most intelligent, but the most responsive to change” - Charles Darwin
Which are you?Sniff/ScurryHem/Haw
Thank you and Good luck!
Social Media and Business InnovationSummary
Direct Line: +44 (0) 20 7250 3416Telephone: +44 (0) 20 7250 3331
Redington13-15 Mallow StreetLondon EC1Y 8RD
Robert GardnerFounder &Co-CEO
Feel free to Connect, Share and Discuss...
• 2009...mail, phone and email
• In addition...
• http://twitter.com/robertjgardner
• http://uk.linkedin.com/in/robertjgardner
Contacts
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