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Interactive Tool Explores How Companies Generate Value With Social Business

The 2014 Social Business Interactive Tool explores how survey respondents say their companies are using social business to transform their organizations and get more from their social business efforts. Users can explore and customize each interactive chart by filtering and isolating the data on the fly — and create customized visualizations to share. Statistics are from the 2014 Business Global Executive Study and Research Project "Moving Beyond Marketing" conducted by MIT Sloan Management Review and Deloitte.

Image courtesy of Flickr user Tristan Martin (https://www.flickr.com/photos/mukumbura/4043364183)
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Why the Non-Superstar Might Be the Most Important Team Member

Hot shots get all the attention, but other team members can be the ones who make a group really tick. “Plus/minus” analysis, which is used by some professional sports teams, lets organizations understand, through data, not just individual performance but performance in context. Research by Thomas H. Davenport details how the goal is to understand how a team performs when one person is part of the mix, and when they’re not.

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Analytical Value From Data That Cries Wolf

It’s a common assumption: errors and biases in a data set mean the data is useless. Not so fast, says Data & Analytics expert Sam Ransbotham — even data with less-than-great accuracy has its uses, if you understand how to parse it. His blog post explains how to make sense of uncertainty, and how tradeoffs between accuracy and breadth in a data set can better inform your decision-making process.

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Are Firms and Managers At Risk When Contributing to Climate Change?

At what point do corporate executives become personally liable for their companies’ failure to take action on climate change? This question is moving into focus as more company executives are being held accountable for business practices and decisions that harm the public. Climate activists look at precedents in the tobacco industry and asbestos manufacturing as the potential basis of legal action against the fossil fuel industry’s leadership.

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Why Social Media Will Fundamentally Change Business

Of you haven’t yet jumped on the social media bandwagon, you may want to hurry up and join. Social media is not a passing fad, but a permanent, transformative technological change to how companies conduct business. Social business expert Jerry Kane explains how social media is likely to fundamentally alter the business environment in the near future.

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Are Companies Ready to Finally Kill Email?

Embracing social collaboration tools could raise productivity by 25%. So what’s the hold up? The problem is that too many companies have installed the right products and networks but have not implemented them into the fabric of how they work. “Full implementation means not only that people know how to use the new tools from a technological perspective, but that they adjust their communication,” writes Terri L. Griffith, author of The Plugged-In Manager.

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MIT Sloan Conference August 29: Growth Opportunities in Latin America and China

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August 29, 2014, MIT Sloan School faculty with expertise in Latin America, China, energy and the global economy present their research and engage in discussion with business leaders about the business challenges and growth opportunities in Latin America and China in 2014 and future. The presenters look at economic and political uncertainty, risks of deflation, fluctuating commodities prices and energy issues. They also compare and contrast the ways of doing business in both marketplaces.

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Data Analytics Makes the Transition From Novelty to Commodity

Business is nearing a tipping point in which the use of data analytics is becoming routinely adopted. While widespread adoption of analytics will mean that it offers less competitive advantage to companies, it also means that the business environment overall will change. Information systems expert Sam Ransbotham identifies four key changes that businesses need to consider now.

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Image of Shanghai courtesy of Flickr user John Chandler.  https://www.flickr.com/photos/johnchandler/9268261356
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The Surprising Effectiveness of “Assembly Line” Innovation

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Unconventional approaches to innovation are speeding up new product development, making R&D faster and cheaper. In China, companies are embracing an industrialized approach to research that allows them to complete projects as much as two to five times faster than they did before. “These developments have potentially huge implications for how companies should think about global competition and whether they need to rethink and reengineer their established innovation and product development processes,” the authors write.

Image courtesy of Flickr user Simon James.  https://www.flickr.com/photos/bearpark/6861722073
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How to Compensate For Overoptimistic Project Leaders

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Would you know if a project was heading off the rails? Too often, members of project teams are crossing their fingers and providing only the most hopeful updates. After reviewing 14 studies into the ways in which individuals report (and misreport) the status of information technology or software projects, the authors identified five specific areas for leaders to look out for to avoid being blindsided.

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Infographic: Social Business Driving Positive Outcomes

A key finding from the 2014 social business research report by MIT Sloan Management Review and Deloitte indicates that company values increase as “social maturity” increases. To advance in social maturity, companies should: 1) use social data to better advantage; 2) provide leadership vision for social; and 3) infuse social across the enterprise. An infographic illustrates the value derived from social, and the way socially mature companies outperform others in key areas.

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The Paradox of Leading a Social Business

Among the findings of the MIT SMR and Deloitte 2014 report: as companies begin to reach maturity in social business processes, many of them are finding that traditional management practices are being replaced by a new kind of leadership. In a social business environment, communication practices between customers, employees, and managers are greatly altered — and the way management responds must change, too.

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Does Your Company Collect Data — Or Hoard It?

As it has become clearer that data offers value to companies, some organizations are tempted to take a “more is better” approach. But there’s a fine line between collecting data that offers value and hoarding data, which ultimately proves counterproductive. Ransbotham’s Three Laws of Data Collection offer guidance.

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An Audio Summary of “Moving Beyond Marketing”

An audio briefing by Gerald C. (Jerry) Kane, co-author of the 2014 social business research report by MIT Sloan Management Review and Deloitte. The report indicates that that measurement sophistication is finally taking hold in social business. More than 90% of “socially maturing” companies actively measure their social business efforts. The authors explain why C-suite leadership is crucial to reaping value from social business.

Image courtesy of Flickr user Michael / Hello Turkey Toe. https://www.flickr.com/photos/helloturkeytoe/8782246559
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After a Social Media Gaffe: How to Recover and Not Dig a Bigger Hole

It was late at night when a staffer from the American Red Cross accidentally sent a personal tweet from the organization feed. Unfortunately, it was a tweet about beer. Immediately, there were thousands of tweets in response saying, “The Red Cross is drunk.” Wendy Harman, director of Red Cross information management and situational awareness in disaster cycle services, says that what happened next was a product of being prepared for social media mistakes and trusting that a little humor would help.

Image courtesy of Flickr user Rik Panganiban. https://www.flickr.com/photos/rikomatic/7508427970
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Would You Wear Red Sneakers to Work? Should You?

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Being a little quirky in clothing choices leads to positive inferences of status, confidence and competence — when observers think the choices are made with deliberateness. From a psychological standpoint, intentional deviance can signal that one has the autonomy to act according to one’s own inclinations, write the authors, who are all affiliated with Harvard Business School. On the other hand, nonconformists do risk not having a comfort zone and “the benefits of following the crowd.”

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Be a Good Sport With Social Media

Reaching out to customers on social media platforms can be a double-edged sword, particularly when the subject is sports. As airlines KLM and Delta discovered, there is a fine line to be walked between supporting the home team and offending a multitude of potential customers. Social media expert Gerald Kane offers some lessons derived from the Twitter errors made during the 2014 World Cup.

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Big Data Fatigue?

Some people suggest that the concept of “big data” is nearing the end of its fifteen minutes of fame. They couldn’t be more wrong — because big data isn’t just about managing social media, unstructured data or massive data sets. It is an approach to data and analytics that finds new ways of looking at information — and it’s here to stay.

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