Social Networking

A 7-post collection

Innovating on Innovation

Last month I spoke at the AICD Company Directors National Conference in Hamilton Island on the Digital Disruption Panel where I developed the theme of Innovating on Innovation. The panel was well received and I would like to summarise those ideas in this Blog. Smart enterprises innovate on innovation to drive disruption to their markets rather than waiting to be disrupted. Each new wave of innovation builds on the previous one; people and enterprises build capacity and capability wave by wave. In this scenario, learning is more important than strategy. What we need to learn is to position people and enterprises to take advantage of emerging trends and strategies. Consider the establishment of the canals between Chicago and New York...

The Death of the Salesman

In the late 1970s IBM was in full flight as the world’s most profitable company with a sales force envied by all its competitors. As a product of IBM sales training I was in New York in 1984 guiding my customer BHP on an investigation into best practice in steel information systems which gave me the chance to witness an unbelievably great performance by Dustin Hoffman in Arthur Miller’s iconic play Death of a Salesman. Miller saw his play as setting forth what happens when a man does not have a grip on the forces of life. Today buyers are globally connected and are engaging with other similar buyers as well as with experienced users on case studies...

How Will Social Media Shape How We Communicate and Collaborate?

When human beings came down out of trees they had few advantages over their predators other than they could think more deeply, communicate their thoughts to each other more effectively and run for longer. It was a miracle that we survived long enough to allow us to dominate this planet. But dominate this planet we have and that has been achieved in no small part through communications technologies that develop ideas to improve our productivity which in turn gave us the power to harness our environment for our own benefit. This current change in communications technologies enabling social media is likely to drive changes of a type and magnitude not seen before. I would like to explore some of those...

Creating Value on a Digital Canvass

Building trust in the connected economy will have important economic and moral benefits. This graph maps trust against GDP per capita and is from a 1996 study that asked “generally speaking would you say that most people can be trusted”  (Zac P J 2003 Trust. The Journal of Financial Transformations CAPCO Institute 17-24)   High trust leads to economic co-operation, which leads to prosperity, which enhances trust in a virtuous circle. Low trust leads to low co-operation leading to poverty and further eroding trust – a vicious circle. Distrustful economies in the lower left are in contrast to the successful economies in the top right. We should all be very afraid if the online world is moving us down to the lower...

Social Media in the Emerging Digitised Economy

Every new communication technology breakthrough, from radio to television, to computers, caused experts to become overly excited about the potential to revolutionise education, entertainment or business.  Visions of replacing expensive people with cheaper machines in these people-dominated economic segments, mostly, were dashed and the early excitement quickly dissipated. Cinema has not replaced theatre, computers have not replaced teachers and, whilst computers are everywhere in business, people still like doing business with people. Where technologies have brought people closer together, they have been embraced; and, where technologies have come between people, as in interactive voice response systems, they were much less successful. It is often felt that we are at a dawn of a new age, and that this moment has...

Generating Profits from Collaboration

Airbnb.com has used the collaborative consumption model to take a resource that would otherwise go unused (an empty bed) and connected the owner of that resource to someone who is prepared to pay for using that resource (a bed for the night). To make this system work sufficient trust has to be created for the provider and user of the resource to be comfortable in undertaking the transaction. Traditional babysitting clubs have now been extended with substantial online services like findababysitter.com.au, which illustrates how communities can share goods and time that are in surplus of requirements, either for a fee or the reward of giving. Online collaboration can go beyond production and consumption of goods and services...

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Altruism in the Digital Age The distinguishing feature of the digital age is the connection of people and things driven by the ubiquitous nature of the Internet. The Internet is connecting billions of people and trillions of devices so that everything is connected with everything else and that will change how people relate and their relationships. Our Increasing Dependence on Others The changes brought about by the digital economy will increase our dependency on others. The fall of Lehman Brothers caused financial pain out the back of Bourke. Drought in one food bowl now causes food riots on the other side of the world.  The essence of power will change as networks become more important than individual people, companies or...