From Forbes Magazine – A Review of the State of Social Business

According to Jeff Dachis, CEO of Dachis Group, social is the currency of engagement.  While social technology has introduced a seemingly endless array of new interaction methods, in the end it is all about solving real business problems.  Companies do not become social businesses for the heck of it. They embrace social to solve specific business problems because it offers a more effective way of doing talent management, supply chain collaboration, business agility, risk management, and more successful products to driving revenue.  Social drives adaptation.

The state of social is not what you might expect.  Sandy Carter of IBM shared that governments and regulated industries have the highest adoption rate of social.  Eighty four percent of the top thirty five banks have a social media strategy and all G7 governments have embedded social in their Government 2.0 initiatives.  At a country level, German companies are the leading adopters of social business practices and are the most successful at it.  These companies embedded social first internally by folding it into their processes and getting that to work before extending social externally to engage with customers.

Through the lens that social is about solving real business problems, the question becomes just how to wade through all the hype, myths and hubris to realize (and prove) its potential.   Embracing the organizing principles of social business comes down to change management.  You know the drill, you’ve been through it before – it starts with people, process and ends with technology.  The exact opposite of what is being advocated by the thousands of technology vendors and consultants shouting from the social bandwagon.

Dachis Group’s 2012 Social Business Summit seven city global tour kicked off in Austin this week (the Summit in Singapore takes place on the 26th July). Writing in Forbes magazine, Christine Crandell provides an excellent review of the Austin event and outlines some key points about what Social Business is and isn’t. Its a great overview on the state of Social Business if you are still trying to get your head around the idea or maybe you are just little skeptical.