Future of social media in business

The future of networksWe have been conducting interviews around the globe with thought leaders on the topic of the Future of Business.

We’ve been covering the future of Customer Experience and The Future of Work. And we’re also showing how the rising middle class is forcing all businesses around the world to think about Resource Optimization.

The following is an interview with Timo Elliott. Timo (@TimoElliott) is a technology and innovation evangelist for SAP.

And he brings us a unique perspective on the future of business and social networks and how they are transforming the future of business.

As the economy becomes more global, supply chains become more complex. How can companies manage this growing network of suppliers and partners?

Supply “chain” makes modern commerce sound more linear than it really is – especially with deep customization and consumer co-creation. It has to be as easy to work with a partner or supplier as you could with a department of your own company. Crucially, what has changed is that information flow between companies is now vastly more sophisticated.

Will the increasing inter-connectedness of people around the world push companies and governments to become more open and transparent?

Consumer sharing of information has certainly forced a lot more transparency in terms of the quality of goods and services – if you have a bad product, you can no longer hide it. Consumers now expect lots of deep information to be available online for any product. But this doesn’t (yet?) necessarily extend to the companies themselves – for example, Apple has thrived on a culture of almost total secrecy.

5 social tips to try: agency dos and don'ts  — Hotelier Middle East
.. to outsource your entire social media activities to an agency. Often, a hybrid approach is far more suitable.

W. W. Norton & Company The Second Machine Age: Work, Progress, and Prosperity in a Time of Brilliant Technologies
Book (W. W. Norton & Company)
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