20091130 social media and business innovation presentation for cctl

Redington13-15 Mallow StreetLondon EC1Y 8RD

T. 020 7250 3331www.redington.co.uk

Social Media and Business InnovationChairman: Mike AnthonySpeaker:Robert Gardner

Social Media and Business Innovation

2

Lets begin by moving some cheese

Technology Evolution

Social Media

Governance 2.0 – Building a Pensions Community

Social Media and Business Innovation

Contents

Lets begin by moving some cheeseHem, Haw, Sniff, Scurry

A short story about;

1. Two humans – Hem and Haw2. And Two Mice – Sniff and Scurry

who live in & Maze.3. The Maze is a metaphor for life.4. The Cheese is a metaphor for

food, money, happiness.

Mainframe

• 1970s

PC

• 1980s

Internet

• 1990s

Social Networking

• Today

TechnologyThe Fourth Revolution

Apollo 11 iPhone X1million more powerful

“In the technology industry people always overestimate what you can do in one year and underestimate what you can do in one decade.”

Marc Benioff, Founder and CEO salesforce.com

TechnologyThe Fourth Revolution

“it is not the strongest of the species that survive, nor the most intelligent, but the most responsive to change”

Charles Darwin – Origin of the Species (1809 – 1882)

TechnologyResponsive to change

The collective action of beehives, photographed by Ted Horowitz.

Yochai Benkler dubs it “the wealth of networks" Howard Rheingold's term is "smart mobs." It's the idea of technology-enabled collaboration … and it's making us all smarter.

The Rise of Collaboration

Jimmy Wales began Wikipedia on 2001 based on the willingness of people to share their knowledge.

…one of the most-referenced, most-used repositories of knowledge on the planet, with more than one million articles in English (compared with the Britannica's 80,000) and hundreds of thousands in dozens of other languages, all freely available.

The "wiki" in the name refers to software that allows anyone with Internet access to add, delete or edit entries. This has led to controversies about the reliability of the information, prompting the Wikimedia Foundation to set tighter rules for editors, while still keeping Wikipedia open-source.

"Wikipedia represents a belief in the supremacy of reason and the goodness of others. ...From the respectful clash of opposing viewpoints and the combined wisdom of the many, something resembling the truth will emerge. Most of the time."WIRED

http://www.wikipedia.org/

The Free Encyclopaedia

Source: The Facebook Era – Clara Shih

Social Media a new web experience that transforms the way we:

Work Learn Interact

People Centric ApplicationsConform to our Relationships and Identities

Technology Centric Applications

PC Email Mobile

Paradigm ShiftSocial Media

The Rise of Social MediaFT: Twitter

The Rise of Social MediaThe changed nature of internet usage in the workplace

The convergence of Broadcasting & Communications Media

Social Media

Years

1

13

38

Actual Statistic: 9 months - 100 million users

Growth of Different forms of mediaTime taken to reach 50 million users

1990 1994 1995 2000 2001 2003 2004 2005 2006

Social Media: Timeline

2009

Stage 1 - 2004 Stage 2 - 2005 Stage 3 - 2006

Harvard Only High School Networks Everyone

Stage 4 - 2009

300 million users

Social Media: The Growth of Facebook

Social Media: Business Applications

Social Media: Business Applications

Social Media: Business Applications

Twitter: Business Applications

20

Chairman

Employer nominated

CIO

Employee nominated Independent

Actuaries

Lawyers

Investment Consultants

Asset Managers

Corporate Sponsor

Trustee Board

Filtering through the noise

Investment Banks

Regulator Product Providers

21

How are trustees reactingRedington recently hosted 100 trustees...

Lack of expertise

Lack of accountability

Not enough time

Focus on past, not future strategy

Making decisions takes too long

Implementing decisions takes too long

...lonely...

Too much information

Governance 2.0: Building a Community

23

We want one place to access all information

We each have defined roles

I can work at my own pace, when I have

time

We have more regular meetings so spend more time looking

forward than recapping the past

I feel better informed to make

decisions

We have a small working group that

focuses on implementation

I can share experiences with

other trustees

I can see what others think about

solutions

We use independent trustees to challenge the board, advisors, managers

etc

What trustees are saying

Community Better governance

Smaller implementation groups

More regular meetings

Define roles

Retain control

Targeted education

In your own time

Hear others’ views on providers

Share experience

Another way

Social Filtering

Amount of NoiseD

istr

ibuti

on C

apac

ity

Low

Hig

hLow High

Source: The Facebook Era – Clara Shih

Internet Media

Social Media

PC Media

Traditional (non-digital)

Media

Social Media and Pensions

www.mallowstreet.com

...continuous improvements in communication and technology.

....explosion of social media and online work will continue to blur geographic boundaries and will enable you develop human and social capital in new ways.

= New potential for innovation and collaboration.

“it is not the strongest of the species that survive, nor the most intelligent, but the most responsive to change” - Charles Darwin

Which are you?Sniff/ScurryHem/Haw

Thank you and Good luck!

Social Media and Business InnovationSummary

Direct Line: +44 (0) 20 7250 3416Telephone: +44 (0) 20 7250 3331

Redington13-15 Mallow StreetLondon EC1Y 8RD

Robert GardnerFounder &Co-CEO

robert.gardner@redington.co.ukwww.redington.co.uk

Feel free to Connect, Share and Discuss...

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• In addition...

• http://twitter.com/robertjgardner

• http://uk.linkedin.com/in/robertjgardner

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