Social media to many “50 something’s” who run most of our large businesses, is just code for wasting time that should be spent productively, but the reality is that  social media is rapidly evolving into a potent business tool in several pretty fundamental ways.

  1. As we can see what is needed, and  where far more quickly, the old resource allocation processes have become totally redundant. Allocating resources based on a plan now 12 months old is, as my kids would say “so 20th century”, it needs to be done in response to things happening NOW, and requiring response. This has huge implications on the way organisations democratise decision making at the front lines of market contact.
  2. As social media becomes more dense, it opens opportunities for collaboration not possible before. This is particularly potent in its ability to immediately mobilise numbers around a cause, location, or combination of both.
  3. Geographic barriers are no longer relevant as an organising principal. Most multinational businesses face this fundamental change in the dynamics of their organisational structures, but so to do social organisations such as the church.
  4. The power of social media as a marketing tool is only just starting to be recognised. We have long understood that personal recommendation is the best endorsement you can have, and the web can now offer an electronic version of the recommendation qualified by numbers and independence. Amazons system of recommendations shows the way.
  5. And now, Hollywood has made a film about the beginnings of Facebook, and the motivation and foibles of its founder, surely, that is a sign that social media is now of age.