The two biggest trends impacting business today are social responsibility and social media. They are often treated separately but they are in fact inextricably linked.
Even before the current economic turmoil, business was moving toward greater social responsibility. Then, as the global economic crisis worsened, social media helped the world see the true cost of the ruthless pursuit of profit and its impact on economies, people, and the planet. Now, in our new world of radical transparency, people can find out anything about a company or brand and share it with one another, fast and far. Social media gives people the power to support companies that are socially responsible and to punish those that aren’t.
The rules of engagement with consumers have changed. Businesses need new thinking to generate strategic ideas that put social responsibility at the heart of business strategy. We call these Social Business Ideas®, because they make a positive contribution to both society and to a company’s profitability. We look for these ideas at the intersection of social responsibility and social media; they’re ideas that embrace a genuine, credible role for the company and tackle the social issues that consumers care about.
A strong Social Business Idea® becomes a rallying cry for the entire company, embracing all stakeholders inside and outside the organization. It combines two words and two worlds, social and business, that rarely were paired in the past but will be vital for our future.
The successful business of the future will do well by doing good.