Understanding Social: An Infographic of a New Business Idea - Forbes | DigiPharma | Scoop.it

Social business is a loaded term, and an increasingly popular one. Do you really know what it means? Do you know where the core value of a social business lies? This infographic will help.

2012 touted by many as the year of social business, but can it really have an impact your business. So where should you start? It should start with a review of people, systems and processes in all parts of your organisation to identify areas where social tools can add value or reduce costs. Understanding how different elements of your business fit together and where they collaborate should also be evaluated (even if it is not currently applied). Understanding how your business interacts with its customers, reviewing how these interactions can be enhanced via social media should also be monitored.

The biggest question I am asked regarding social business is “can it really be applied to my industry?” Even in the most tightly regulated industry, social business has the potential to improve effectiveness and reduce costs. Social business is all about optimising your company through social and therefore first take a deep look at yourself (with or without help) and then move forward.

Is everyone doing it? You may think the grass is greener on the other side, but if you take the time to water your own grass, it can be just as green.