CAPTURING THE VALUE OF SOCIAL TECHNOLOGIES
How much future value is generated by social technologies (and INNOVATION) will depend on multiple enablers. Success in implementing and using social technologies in and across enterprises will depend on transforming their organizations and cultures to take full advantage of the collaborative potential of social technologies. Success in deploying social technologies to connect with broader communities will require the ability to create trust, a critical mass of participation, and positive community cultures and practices. Social technology is not just another IT implementation. Nor is it simply a tool to improve communication and collaboration. As has been seen in the consumer context, social technologies unleash creative forces among users and enable new relationships and group dynamics. Some of the most useful innovations in consumer social technologies—the hashtags to organize tweets and the standardized Wikipedia article format—were created by users. User innovations can drive the evolution of social technologies within and across enterprises, too, if the culture encourages them.
How much future value is generated by social technologies (and INNOVATION) will depend on multiple enablers. Success in implementing and using social technologies in and across enterprises will depend on transforming their organizations and cultures to take full advantage of the collaborative potential of social technologies. Success in deploying social technologies to connect with broader communities will require the ability to create trust, a critical mass of participation, and positive community cultures and practices. Social technology is not just another IT implementation. Nor is it simply a tool to improve communication and collaboration. As has been seen in the consumer context, social technologies unleash creative forces among users and enable new relationships and group dynamics. Some of the most useful innovations in consumer social technologies—the hashtags to organize tweets and the standardized Wikipedia article format—were created by users. User innovations can drive the evolution of social technologies within and across enterprises, too, if the culture encourages them.
The real power of social technologies is only just beginning to be understood. That power stems from the innate appeal of interacting socially and the pleasure and intellectual stimulation that people derive from sharing what they know, expressing opinions, and learning what others know and think. As has been seen in early use of social technologies, when these ways of interacting are applied to commercial and professional activities (e.g., developing and selling products, working together to solve a business problem), the resulting value creation is impressive. Scaling these results to industry-wide and economy-wide levels produces very large numbers. For now, such figures are directional—they represent what could happen, if organizational and cultural barriers can be reduced and if risks can be mitigated. Over the coming years, it will become clear if those hurdles can be overcome.
source: McKinsey Global Institute
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