Soical network and Information

My aim for social networking will be to increase the flow of information available on various social networks. Thereby, members of one social network will benefit from other social networks without having to join them all. A portal will be created whereby people who are talking about one topic on one of the major networks can see what others are saying.

This increase in information available to networkers can grow exponentially!

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The above bell curve, drawn specifically for this blog, is a basic illustration of how much information is used. One can monitor the information and flow of this information. Data in the category, “most used/shared information,” is retained, while data in “less used” is revised and data that is “least” used is discarded. In this way, one can target new information that will be shared across networks and benefit the organisation.

This portal will be helpful to up and coming innovators who need to explore their ideas. Features that allow members to share some of their information across social networks have been innovated, for example, a feature that gives the ability to post the same material on several social websites. Notable organizations such as LIVESTRONG, BA and The Worldlife Fund have been using this feature (Dummelt 2009). Search words which will help pick information from the relevant social networks. For example, on Facebook, there could be talk about “Emerging markets in Asia”. These words will be used to create a search on another social network such as Twitter. At the same time, how these words are shared, used and expounded upon by networkers will be closely monitored according to the bell curve above.

Information will be placed on the portal. This information will be made available to the employees and to others working with the organization. Employees will not have to log into the various social networks to get all the information. Those working with the organization, for example customers, will easily access the information they need from this portal. They can, for example, seamlessly hear what people are saying about an innovative product on various social networks without having to go to these websites.

The portal can also categorize the information and make it easy to digest by offering it in an analyzed way.  According to Gummelt (2009), Facebook has been active in helping its members get information from other websites such as YouTube and link it to their accounts. However, one has to be a member of Facebook to access this information. In addition, features such as Hootsuite help manage social network accounts. Nevertheless, they still leave a person dealing with multiple networks.

 

Reference

Gummelt, R. P., 2009. Publishing to Twitter from facebook pages. (Online) Available at

http://blog.facebook.com/blog.php?post=123006872130 (Accessed 12 October 2012).

wiki strategy

The purpose of this investment company would be to secure profits through investments to give to poor countries. This organization is one-of-a-kind as it uses the traditional approach in a market economy combined with sound investment strategy but is actually not-for-profit. The principles of a for-profit business are thus acquired and put to use to benefit the impoverished.

The most obvious and serious means by which this organization can flourish while still remaining competitive is through the implementation of a corporate wiki. Since much of our business is conducted in overseas markets, it is very important to maintain strong links and establish free-flowing communication with all stakeholders – whether this is New York City or Nairobi. The best way to provide a platform for and reinforce this communication is by a corporate wiki through which the company can collaborate with external parties. For example, companies who build infrastructure in poor communities can be easily reached wherever they are located, as can suppliers et al, thus crossing national boundaries and providing access to funds through a wiki that can keep long-time partners abreast of assets, pools of funds to help poor, etc.

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Note: the above chart is a guide as to the proportion of resources consumed by each entity who partakes in the company’s activities; in addition, these figures show approximately the financial allocation – for instance, 10% of funds paid to wiki administrators, 40% for financial experts and so on. Remember this is for financial allocation only and does not reflect the real value of assets benefiting a local community.

One of the biggest challenges is how to manage such a large enterprise. This would require an elaborate network of communication between all staff that compartmentalize information from disparate sources into one smooth-flowing wiki. As a consequence, email is not adequate for this purpose. An adjunct part of the same wiki can be used to facilitate communication by all broken down into different sections: one for governmental communication, another for builders of civil construction, another for financial experts, etc. This means communication cannot get lost and there is a permanent log of prior dialogue. This requires, therefore, significant costs for bandwidth and additional moneys for administrative staff to maintain the blog…not to mention IT professionals to set it up and handle technical questions.

The goal of provision of resources, goods, infrastructure and services to poor rural communities across the world is thus met efficiently.

The investment company

My proposed organisation is an investment company that invests in assets for financial gain to benefit those in poverty. Money secured through investments is given to communities in developing countries for water, health, housing and energy. In this way, the traditional capitalist goal in a market economy is overturned to instead help to those people who all too often miss out.

The principal goal of implementing Enterprise 2.0 technologies in this organisation is to redirect our flow of work in our workspace. Important announcements and notices are no longer funnelled through myriad emails only to become lost. Rather, the intention is for such correspondence to go directly into a special `shared workspace.’ This is a location where all employees can view – and interact – with the information. The technology will be `written’ into current email software so that, instead of clicking `send’ to a person’s email address, a button can be clicked which sends the information to the shared workspace.

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The second parallel phase of Enterprise 2.0 is to eventually become global with this organisation and, to help expedite this process, a blog will be made. This blog will show two things, (a) the way by which we invest in foreign markets, and (b) the way by which investment returns assist local developing populations. The blog will appeal to a wide range of people in the social space – from new entrepreneurs looking for ways to invest, to university students and staff in economics and the social science, as well as government officials and other non-profit organisations. The main goal is to raise our profile, show our success, and educate people.   Through the blog, the organisation will be in a better place to recruit new entrepreneurs and seek funding from government departments.

There are a number of micro-blogging strategies. First, we shall post bi-weekly updates to the blog. The approach is to make readers feel `part of the family’ with pictures of investment recipients in remote rural areas of developing nations, as well as clear and lucid details of how investment is conducted and how and why it benefits the local people. We can encourage people to also invest money themselves. The way we do this is by categorising our blog posts over time into various themes such as, “investments,” “local people,” “funding,” etc, which can direct time-savvy readers to particular parts of the blog that will serve their interests best. Over time it is envisaged that more and more people will read the blog and post links to our content, thus expanding our social space to cover the kinds of groups above but in wider parts of the world, which can increase our money help more and more impoverished peoples.  

 

Return on Investment in the Field of Enterprise 2.

In past weeks we have discussed the nature of Enterprise 2.0 technologies and explored the risks and benefits. Today, we will consider how, in practical terms, we can figure out that rate of return in our business using Enterprise 2.0 technologies.

The rate of our return or return on investment (ROI) is calculated in the following way—

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As an example, if we expect to earn $10,000, but it cost $4,000 to administrate the sale of items and implement our Web 2.0 technologies, then we would calculate (10,000 – 4,000) / 4,000 which would be a 150% return on investment.

The difficult part is in deciding exactly what are the benefits and costs. If these are unknown beforehand, then one may need to guess, which could of course prove problematic. The table that follows however shows example costs and rewards one can use as a guide when calculating ROI.

 

COSTS

Measurement issues and criteria

Technology

Software license fees

Upfront and/or annual fees, including potential fee increases

Deployment

Costs of resources and staff time

Maintenance

External maintenance contracts or internal support

Integration costs

Integration with existing applications

Additional hardware required

Internal hardware or external hosting

Bandwidth Costs

Increase in internal and external bandwidth required, based on specific usage scenarios

Adoption

Training

Classroom, online, or one-on-one training

Time to learn

Time of staff taken to learn or adapt to new systems

 

TANGIBLE VALUE

Measurement issues and criteria

Revenue

New revenue from existing clients

More effective selling, cross-selling, or conversion of service calls to sales

Revenue from new clients

Acquisition of clients from more effective sales efforts or increased visibility

Increased productivity

Time saved searching for information

Reduction in online, phone and other search for information required to do work effectively

Increased effectiveness of access to better information

Impact on revenues or costs (depending on role) due to access to resources

Lower costs – company internal communication

Fewer emails

Cost of sending emails, time taken to write them, and time taken to deal with email

Fewer phone calls

Cost of phone calls and time of staff on calls

Fewer meetings

Cost of staff time, meeting facilities, travel time, travel expenses, other meeting resources

Less travel

Cost of travel, including direct costs, cost of staff time, impact on morale

Lower costs – technology

Replacement of existing software licenses

Cost of existing software and technology that can be replaced with new systems

Reallocation of IT staff

IT staff that can be redeployed from existing support or maintenance activities

Lower costs – product development

Reduced time to market

Cost of all product development resources, including staff time, overheads, external suppliers etc.

Cost of market research

Cost of traditional market research such as focus groups and surveys

Lower costs – suppliers

Reduced communication costs

Cost of communicating with suppliers

More efficient supply

Cost of supplier resources including staff time saved by more effective collaboration that results in lower fees

 

INTANGIBLE VALUE

Measurement issues and criteria

Brand capital

Increased sales

Increased sales from higher reputation and visibility

Ability to hire best staff

Impact on revenues and costs from having more capable staff

Increased customer loyalty

Increased revenue from lower customer turnover and more word-of-mouth recommendations

Social capital

Greater collaboration

More efficient working processes and improved access to resources

Cost of market research

Increased productivity

Lower staff turnover

Improved staff retention due to better working environment

Innovation

Create new markets

Generate new opportunities through better collaboration and swifter product creation

Take market share

Increase sales due to better competitive intelligence and response to it

Recruitment/retention

Lower recruiting and training costs

Reduction in costs of replacing and developing staff who remain due to a better working environment

 

  As an example of how to improve our ROI after plugging various figures into the formula and seeing the result, would be to cost-cut – for instance, if we lowered our cost of communicating with suppliers (as per the above table) then we could further reduce overall costs and thereby increase ROI. The greatest general benefit however, is that by having so much of our communication and collaboration conducted by Web 2.0 (YouTube, Twitter, etc), much our cost is lower than a traditional organization to begin with, thus putting us ahead of competitors!

Dreamworks Studios Social Media

 Dreamworks studios is an American film production studio that produces and distributes various forms of media such as films, video games, television program amongst other functions. It was formed in 1994 and is currently based in California. The organization is well noted for the production of several highly successful films over the years and is attached to some of the well known and respected film producers and directors such as Steven Spielberg.

The organization has a massive social media presence on virtually all existent platforms on the internet. As part of the organization’s marketing strategy, they employ an expansive social media campaign for many of its upcoming blockbuster films, programming and even video games; a strategy that has proved highly successful. By engaging actively in social media, the company reaps the benefits of modern advertising techniques and avenues while also assuming the risks inherent in the platform.

–          Distortion of the Line between the Employees’ Personal and Professional Lives.

An inherent risk for the organization’s employees is that social media distorts the line between their personal lives and their professional lives. For a company such as Dreamworks, the employee base is massive and tiered by way of structure. Those actively involved in any projects that are advertised on the social media networks may be required to lay mentions of the project in while social networking (Navetta, 2012). The frequency of the activity would likely create an overlap in the employees’ lives and make it hard for them to distinguish between personal and professional thereby creating the probability of them mentioning inappropriate personal remarks in a professional forum. This would leave the company vulnerable to legal recourse by aggrieved parties.

–          Misrepresentation of Information.

The organization, through social networking, is also vulnerable to legal action in the case that they misrepresent information about a competing film or affiliate organization. This can arise if while marketing a project, a project by a competing organization is mentioned in what may be perceived as a negative light (Navetta, 2012). Similarly, in case the role of an affiliate company on a project, for instance, a special effects company is called in to question, the organization could be sued for libel (Legal Risks of Social Networking for Business, 2011). Given the fact that social networking has no requirements for formal or fully sanitized statements, such risks may arise when the organization or its representatives post remarks in jest, leaving the organization open to legal action.

–          Disclosure of Sensitive Information.

The organization also runs a risk of disclosure of sensitive or confidential information through employees. Employees of the organization may accidentally disclose confidential information regarding the organization or some of the projects and employees while social networking (Legal Risks of Social Networking for Business, 2011). This is a risk that the organization runs because of lax enforcement of social media policies or misunderstanding of the policies. Similarly, such information could be disclosed on the social networking platforms by disgruntled employees. The disclosure of such information would have the effect of weakening the position of the organization by empowering the completion or by opening it up malpractice lawsuits by different entities.

–          Mitigation of Legal Risks.

As a precaution to enhance the mitigation of some of the legal risks posed by the use of social media, the organization can reinforce the existing social media policy by having posts made on behalf of the organization vetted (Nelson & Simek, 2011). This would reduce the likelihood of a legal incident and protect its reputation when under public scrutiny. Secondly, the legal risks associated to disclosure of confidential information can be mitigated by the restriction of information flow in the organization (Nelson & Simek, 2011). Limiting the level of access that employees have to sensitive organization information reduces the chances of unwanted disclosure, therefore, insulating the organization.

 

References.

Legal Risks of Social Networking for Business. 2011.[online] Available at:

http://www.dundaslawyers.com.au/index.php/legal-articles/intellectual-property/legal-

risks-of-social-networking-for-business/ [Accessed 28 August 2012]

Navetta, D. 2012. The Legal Implications of Social Networking. [online]. Available at:

.ttp://www.infolawgroup.com/2012/01/article. [Accessed 28 August 2012]

Nelson, S.D & Simek, N.D. 2011. Mitigating the Legal Risks of Using Social Media. [online]

Available at: http://www.senseient.com/storage/articles/ [Accessed 28 August 2012].

The benefits and risks of Enterprise 2.0

Green (2010) views that enterprise blogs are beneficial in many ways (p.47). Blogging is something that builds into corporate expectations for the past popular teen. Many firms in need of enterprise blogging are increasing daily, though not each company may like the enterprise blogging. There are numerous benefits of enterprise blogging. Readers can communicate directly with investors, consumers, employees and suppliers in assisting to disseminate and justify the strategy. Blogs enable the blogger to have the opportunity to respond to critics appropriately through a controlled forum. Enterprise blogs are affordable and cost effective compared with printed memos and conferences to all employees. Sharing their information in a genuine voice enable the blogging firms the fresh connections and develops the trust that cause galore in business opportunities.

There are risks related with the enterprise blogging. First, firms are always sensitive to face criticism. Negative comments can counterbalance with the positive comments. It is important to note that readers like to trust the site, which reveals to the negative and positive comments. When comments are negative, companies would      make use of the blog to handle the complaints. Secondly, most companies see blogs as a risk because vetting marketing and public information is always under control (Green, 2010, p. 52). Readers may be communicating about the information revealed from certain companies. Thirdly, workers who represent the firm without adequate training and experience for the corporate culture and expectations may be the source of risk. Extensive knowledge and training for corporate blogging is necessary. In addition, attention needs to be taken in case an employee is terminated from the company since wrongful termination may result in negative comments in the blogs.  

 

The reference

Green, L. 2010. The Internet: An Introduction to New Media. New York: Berg.

what makes a blog a success

According to Green (2010), an effective blog is designed for the topics, which have a wide appeal (p.34). The more individuals would like the topic written in the blog, the more individuals would look for the information of the topic and intend to go through the topic. The subject of the blog has to be passionate in nature and appealing. In case, the blogger does not like his topic, it would be revealed. Readers can recognize when a blogger is wandering through the motions, but not conversing genuinely from his commitment.

An effective blogging needs a massive quantity of determination and patience. Developing an effective blog needs more than just mere publishing a fresh post shortly within a week. The most effective blogs are commonly updated many times daily, and the bloggers, who prepare such blogs work hard to drive traffic and to promote their blogs (Green, 2010, p. 37). Developing an effective blogs needs a massive investment of time. Building a blog does not end in publishing the post. Effective bloggers make use of a lot of time daily reading, promoting and researching to drive traffic into their blogs.  Socializing remains a crucial element of building an effective blog. Blogging naturally remains a social medium, and an effective blog develops a sound sense in the society around it. Effective bloggers take the opportunity to interact, comment and responds to their readers and engaging in networking on the social sites as well as forums for the determination to promote their commitments.

    Blogs is something that continuously changes. This implies that effective bloggers always search for fresh ways to promote their blogs through continuous looking for anything associated to blogging. Effective bloggers study a lot in order to remain updated in the information they need to blog.  

The reference

Green, L. 2010. The Internet: An Introduction to New Media. New York: Berg