At CMSWire, we like to think that by covering the different elements of social business, we can definitely tell you what works and what doesn’t. Unfortunately, our crystal ball is broken. Fortunately, the folks at MIT Sloan Management Review and Deloitte are coming together to conduct a year-long research effort into social business in an effort to “provide executives a baseline of the social business landscape today and a framework to help them realize value from their social business investments.”
Examining the Impact of Social Business
The partnership will aim to investigate the implications that social business is having on management. In other words, is this social business stuff for real? and do I need to really need to do it?
Through an “innovation hub” the two organizations will explore the complexities facing managers as they craft and implement social business strategies, specifically examining how social business creates value in different types of enterprises. MIT isn’t a stranger to innovation hubs, as this will be its third hub launched. Previous hubs included new intelligent enterprise and sustainability & innovation.
Enhancing Organizational Performance
At the core of the research is a need to understand the psychology of sharing and collaborating and how it can transform the way companies work. In his introduction, David Kiron, executive editor of MIT Sloan Management Review’s Innovation Hubs, writes
There is a great deal of hype about social media’s impact on the marketing function, and while it is true that in many businesses social media starts with the business to consumer relationship, it may be that the greater promise of social media, and the collaboration it enables, is enhancing organizational performance."
It’s thrilling that social business will be placed under the microscope for further inspection and discovery. Even more exciting is the impact that the MIT Sloan Management Review and Deloitte -- two big names in business management -- may have in convincing skeptics and critics of social business to embrace collaborative business process and technologies. We can’t wait to see what develops.