exploring value creation through social media and networks
DESCRIPTION
Presentation at Hilton Malmö, Sweden for IFL (www.ifl.se) as part of their Inspiration series. February 2011 - together with Steve Mahaley, Duke CETRANSCRIPT
Exploring value creation through Exploring value creation through social media and networkssocial media and networks
Dr. Robin Teigland, SSEDr. Robin Teigland, SSEwww.knowledgenetworking.orgwww.knowledgenetworking.org
www.slideshare.net/eteiglandwww.slideshare.net/eteigland
Steve Mahaley, Duke CESteve Mahaley, Duke CEhttp://smahaley.wordpress.com/http://smahaley.wordpress.com/
February 2011February 2011
"...when the rate of change "...when the rate of change outside an organization is outside an organization is greater than the change greater than the change
inside, the end is near...." inside, the end is near...."
Jack Welch…Jack Welch…
Did You Know: Shift HappensDid You Know: Shift Happenshttp://www.youtube.com/watch?http://www.youtube.com/watch?
v=cL9Wu2kWwSYv=cL9Wu2kWwSY
How are these trends impacting How are these trends impacting you and your organization?you and your organization?
GrowthGrowth
TimeTime
Information Information and knowledgeand knowledge
Human Human absorptive absorptive capacitycapacity
Human capacity cannot keep up…Human capacity cannot keep up…
Adapted from Cohen & Levinthal 1989Adapted from Cohen & Levinthal 1989
Adapted from FredCavazza.net
Growing number of social media
Some favoritesSome favorites
Twitter @DellOutlet – 1.5MM followers
Facebook – 360,000 fans--------
170, 000 customer ratings from 62 countries
$6.5MM revenue
Social Media and Communities
University
Mobile Phone Video - > YouTube
“We’re moving to France!”
“…we realize that in humanizing Ford, it’s just as important to connect our customers and fans with each other as it is to connect them with Ford employees, because they’re more likely to believe what other people have to say about Ford.”
Twitter + Facebook = 500K fans
TheFordStory.com – customer-
contributed stories
Social Media Action and Response
Team (SMART)
Drivers of changeDrivers of changeIn
crease
dIn
tera
ctivity
DiGangi 2010DiGangi 2010
Tenno, http://www.slideshare.net/helgetenno/post-digital-marketing-2009
Business models
So, what happens to them?
Johnson, Christensen, and Kagermann 2008, DiGangi 2010
They evolve...
DiGangi 2010DiGangi 2010
Closed model
Organizations internalize resources for value creation; restrict access to
knowledge, and protect intellectual property. DiGangi 2010DiGangi 2010
DiGangi 2010DiGangi 2010
Open model
Organizations leverage both internal and external resources for value
creation; strategically interact with environment DiGangi 2010DiGangi 2010
““Distributed groups of individuals Distributed groups of individuals focused on solving general problem focused on solving general problem
and/or developing new solution and/or developing new solution supported by computer-mediated supported by computer-mediated
communication.” communication.” Dahlander & Wallin, 2006 p. 1246Dahlander & Wallin, 2006 p. 1246
User-driven Innovation
DiGangi 2010DiGangi 2010
DiGangi 2010DiGangi 2010
““Distributed groups of individuals Distributed groups of individuals focused on solving general problem focused on solving general problem
and/or developing new solution and/or developing new solution supported by computer-mediated supported by computer-mediated
communication.” communication.” Dahlander & Wallin, 2006 p. 1246Dahlander & Wallin, 2006 p. 1246
User-driven Innovation
Co-created model
Organizations encourage flow of knowledge between internal and external resources; focus on common good where
both parties benefit DiGangi 2010DiGangi 2010
eZeZ 230+230+PartnerPartner
ss
30,000+30,000+CommunityCommunitymembersmembers
5,000+5,000+Customers in Customers in 130 countries130 countries
• #1 open source content management #1 open source content management softwaresoftware
• Customers include UN, Vogue, Hitachi, 3M, Customers include UN, Vogue, Hitachi, 3M, MITMIT
• 75 employees in 9 countries (US, Europe & 75 employees in 9 countries (US, Europe & Asia)Asia)
eZ facilitates eZ facilitates platforms for conversation platforms for conversation throughout its ecosystemthroughout its ecosystem
Transparency, transparency, transparencyTransparency, transparency, transparency
http://twitter.com/#!/zappos
Core Value #6: "Build Open and Honest
Relationships with Communication
Some things do not changeSome things do not change
Innovation Exchange
Exchange Trust
Trust Relationships
Relationships Interaction
"E-connection is processed in the brain like an in-person connection."
http://slideshare.net/missrogue
Just when you thought you got it…..Just when you thought you got it…..
O’Driscoll 2009O’Driscoll 2009
Building skills in virtual environmentsBuilding skills in virtual environments
My CVMy CV•Leading a virtual team of 30 Leading a virtual team of 30
individuals from across the globeindividuals from across the globe•Creating and successfully Creating and successfully executing strategies under executing strategies under
pressurepressure•Managing cross-cultural conflict Managing cross-cultural conflict
without face-to-face without face-to-face communicationcommunication
Teigland 2010
How many usually think of virtual worlds…How many usually think of virtual worlds…
Teigland 2010
But what else can they be?But what else can they be?
•Ability to manipulate/create contentAbility to manipulate/create content•Virtual economy and currencyVirtual economy and currency
http://www.youtube.com/watch?v=Quh2OiPHkm8
Tomorrow’s education & training?Tomorrow’s education & training?
Learning virtual Learning virtual teaming skills teaming skills
through experiencethrough experience
http://www.youtube.com/watch?v=N8XPmp0qGyghttp://www.youtube.com/watch?v=N8XPmp0qGyg
Facilitating the virtual workforce Facilitating the virtual workforce
Welch et al 2010Welch et al 2010
Professional Collaboration and Productivity in Virtual Worlds (2009-2012) - ProViWo
http://vmwork.net/proviwo/
Avapreneurs and Born VirtualsAvapreneurs and Born Virtuals
Teigland 2010Teigland 2010
From the mobility of goods From the mobility of goods to the mobility of financial capital to … to the mobility of financial capital to …
...the “mobility” of labor?...the “mobility” of labor?
FOR YOU?FOR YOU?
Key takeaways:Key takeaways:- Learn from online interactions and then innovate Learn from online interactions and then innovate
based on what customers wantbased on what customers want- Provide structured opportunities for people Provide structured opportunities for people
within the business to learn about and within the business to learn about and participate in social media presenceparticipate in social media presence
- Executive support, dedicated personnel and key Executive support, dedicated personnel and key championschampions
- Humanize the business, and give opportunities Humanize the business, and give opportunities for customers to tell their storiesfor customers to tell their stories
- Social Media Guidelines for your peopleSocial Media Guidelines for your people
What are the opportunities for What are the opportunities for you?you?
Robin Teigland, Robin Teigland, [email protected]@hhs.se
www.knowledgenetworking.orgwww.knowledgenetworking.orgwww.slideshare.net/eteiglandwww.slideshare.net/eteigland
www.nordicworlds.net www.nordicworlds.net RobinTeiglandRobinTeigland
Robin Teigland, Robin Teigland, [email protected]@hhs.se
www.knowledgenetworking.orgwww.knowledgenetworking.orgwww.slideshare.net/eteiglandwww.slideshare.net/eteigland
www.nordicworlds.net www.nordicworlds.net RobinTeiglandRobinTeigland
Photo: Lindholm, Metro
Photo: Nordenskiöld Photo:
Lindqvist
If you love knowledge, set it free…
Steve Mahaley, [email protected] Mahaley, [email protected]/in/stevemahaleywww.linkedin.com/in/stevemahaley
Smahaley, Skype: mahaleysSmahaley, Skype: mahaleysSecond Life: Ace CarsonSecond Life: Ace Carson
http://smahaley.wordpress.com/http://smahaley.wordpress.com/Phone. +1 919 680 5618Phone. +1 919 680 5618
Interested in learning more Interested in learning more about Virtual about Virtual Worlds?Worlds?