somesso risk talk on social media and collaboration in finance
DESCRIPTION
This is the summary of a talk given 2nd November at the Swiss Re Centre for Global Dialogue in Zurich about collboration using social media in finance, and the risks of not getting involved in co-creation and collaboration with stakeholders.TRANSCRIPT
Social business design and management
Collabora3on in Finance Somesso Risk Talk 2009
Protec3onism in finance is strong
Not used to dealing with people as assets
Isn’t it easier to just to do this?
The granular nature of the internet
Risk #1
On the outside people are gathering
And informa3on is flowing
Affinity is stronger than structure
The net worth is in the network
A lot of people are wondering what happens next
The key to success is leadership (aka crea3ve vision)
The kind that can inspire and spread ideas
Outreach leads to social advantage
A new kind of power
SoQ power
That can work with the force coming towards it
Source: Promise Index 2009
That can align promises and experiences
And develop crucial elements for social growth
Visceral Business - Anne McCrossan - www.visceralbusiness.com
New forms of emergent value
Risk #2
The economics of automated transac3ons
80%
learning
strategy
advice
innova3on
social
decision making
tacit communica3on
Source: Karen Stephenson NeVorm
Value that’s been previously hidden
Rela3onships
Digital transparency is crea3ng reputa3onal value
Goal Metric Value
Learn
Dialog
Help
Innovate
# of customer feedback
# of comments # of referrals
# of issues addressed
# of implemented ideas
Impact of faster, be\er insights
Greater loyalty Faster, more closes
Increased sa3sfac3on
Faster development
Charlene Li – Altimeter Group – Creating Winning Social Media Strategies
Brands are public property and the conversa3on has value
How to look aQer this guy
bystanders
weak links
emotional commitment
inte
llec
tual
und
erst
andin
g
champions
loose cannons
low
hi
gh
low high
There’s no such thing as no impression
Risk #3
Everyone has a digital footprint, or needs to have one
Accommodate lose:win
Avoid lose:lose Compete win:lose
Collaborate win:win
task
peo
ple
ask tell Source: Keirsey Temperament Sorter
Compromise win some:lose some
amiable expressive
analy3cal driver
task
peo
ple
ask tell Source: Keirsey Temperament Sorter
Empathic listening Factual listening
Downloading Genera3ve listening
1
2 3
4
quick fixes, reac3ons
redesigning policies reframing values and beliefs
regenera3ng sources of self and purpose
Source: C. O\o Scharmer Prescencing Ins3tute
New management skills, richer communica3on
‘The people formerly known as the audience’
Copyright © 2009 Visceral Business Visceral Business - Anne McCrossan - www.visceralbusiness.com
ShiQ in corporate and personal value
Risk #4
The value of each person in your address book is $948
When friends of your friends are not friends of each other or belong to the same social group = 276.64% increase in monthly revenues
One strong link to your manager is worth $588.2/m
One weak link to your manager costs $98.48/m
Having managers in a project is correlated with team performance ini3ally
Too many managers in a project is nega3vely associated with team performance
Strong 3es to execu3ves is posi3vely correlated
A\ributes of your network human capital, power and status have a unique rela3onship with work performance.
Where personal worth and corporate worth combine
The Evolution of Social Software in IBM. Small Blue Research Study. http://smallblueresearch.ibm.com
As part of the brand as a single unifying thought
Visceral Business - Anne McCrossan - www.visceralbusiness.com
Not re‐evalua3ng an evolving iden3ty
Risk #5
industrial organiza3ons
commercial organiza3ons
social organiza3ons
who you are and
what you do
products and
services
skills and
approach
culture and
personality
mission and
cause
1 2 3 4 5
u3li3es causes
Posi3oning financial services
housing
energy charities
pharma trade guilds
councils and public services transport auto travel and leisure
food and beverages membership organizations
financial services
consumer electronics
fmcg media and cultural institutions
technology government
mining retail mining
tangible assets intangible assets
Visceral Business - Anne McCrossan - www.visceralbusiness.com
credible and compelling
The social space demands strong posi3oning strategies
geek
loser poser
hero
credible and compelling
cred
ible
compelling
Including how purpose and product benefit the ecsoystem
Opportunity to leverage intangible assets like culture
And develop robust consumer‐centric business models
Alex Osterwalder – Business Model Generation http://www.businessmodelgeneration.com
Rachel Happe – The Community Roundtable
Core a\ributes of a sustainable social business
Visceral Business - Anne McCrossan - www.visceralbusiness.com
An insurance policy and safety net
Copyright © 2009 Visceral Business
Photos and credits Slide 1 : Spin by conorwithonen h\p://bit.ly/32qpAb Slide 2 : Bank Vault – 003 by Jason Bethchel h\p://bit.ly/29iDYW Slide 3 : Image source not known Slide 4 : Sandbags by adamhenning h\p://bit.ly/29iDYW h\p://bit.ly/1QoEgd Slide 6 : P1050180.JPG by l.million h\p://bit.ly/2FBEOa Slide 7 : Where does my money go? by jwyg h\p://bit.ly/38VoSz Slide 8 : Image source not known Slide 10: Direc3on by alexhouston h\p://bit.ly/oDRYf Slide 11: Are You S3ll Up For It, Senator? By ILIGHT h\p://bit.ly/26kUpV Slide 12: Barack Obama @ Twi\er by comicbase h\p://bit.ly/3nnHt3 Slide 14: Hearst Corporate HQ by Chris3an Lau h\p://bit.ly/GISXL Slide 15: Honk!!! Honk!!! Honk!!! :))) by Denic Cole\e!! h\p://bit.ly/1KtNiC Slide 16: Judo Throw by ChrisHardyPhoto h\p://bit.ly/4ap4kb Slide 20: Image source not known Slide 24: h\p://hsbcreviews.com/ Slide 25: Image source not known Slide 26: Passively bystanding by Lo Li h\p://bit.ly/odsab Slide 26: The weakest link by Darwin Bell h\p://bit.ly/FAPcN Slide 26: Target Day 2 by Mikey Sachs h\p://bit.ly/O09Os Slide 28: Footprints by Ben Garver h\p://bit.ly/BY0HJ Slide 29: Day 345 ‐ Turning my back on things I don't want to face by Ginger_Blue h\p://bit.ly/1v0FdI Slide 29: With sexy hands…by Na\u h\p://bit.ly/KtGDG Slide 29: Saludo al público antes de 3rar by Yuneta Negra h\p://bit.ly/32rMhD Slide 29: Wall Of Peace – Moscow by Jeff Bauche h\p://bit.ly/4slFak Slide 29: Ants imagery source not known Slide 30: Smile by jiggskykeken h\p://bit.ly/2cvjqJ Slide 30: Work in Progress by Katherine Treffinger h\p://bit.ly/FfT0u Slide 30: Post Office by Suzy Pym h\p://bit.ly/FW8nD Slide 30: Driving light by Crankydragon h\p://bit.ly/19jNBC Slide 34: Reputa3on Stement of Account by Jason Tester 2004 Slide 35: Contribu3on text via @Sparkbouy and IBM Slide 40: New spectacles by Steve Green h\p://bit.ly/LvyNa Slide 40: Time to play by qcomplex5 h\p://bit.ly/e0qsD Slide 40: 4 by 3li\leboyz h\p://bit.ly/2R5asI Slide 40: My Name is Not Clark Kent! Carlos Norbero h\p://bit.ly/JFlIl Slide 46: Web 2 by Aldo Trim h\p://bit.ly/2aNQ0b