A presentation for Sweden's Public Transportation organizations (Kollektivtrafik) on the impact of social media on business and the future of the transportation industry.

1. Creating value through networks and social media Dr. Robin Teigland, aka Karinda Rhode in SL Associate Professor Stockholm School of Economics www.knowledgenetworking.org www.slideshare.net/eteigland Photo: Lundholm, Metro November 2009 ww.sse.edu

3. This PDF won’t show up on my LCD.

5. My mom wants to know if she can use Paypal for Netflix.

7. 3 "...when the rate of change outside an organization is greater than the rate of change inside, the end is near...." Jack Welch…

8. Did You Know: Shift Happens http://www.youtube.com/watch?v=jpEnFwiqdx8&feature=fvst What does this mean for organizations? 4

9. Information and knowledge Growth Human absorptive capacity Time Human capacity cannot keep up… Cohen & Levinthal 1989 5

10. 6 ”No one knows everything, everyone knows something, all knowledge resides in humanity.” networks Adapted from Lévy 1997

11. 7 The wisdom of the crowd Closed Expensive Complex Accurate Open Inexpensive Simple Close enough Accurate Adapted from Hinton 2007

12. 8 Leveraging external resources to find solutions and solve unsolved problems A shift from being problem solvers to solution finders

13. History tends to repeat itself….Innovation, financial crisis, industrial revolution, … Microelectronics Internal combustion engine Steam engine Third industrial revolution? Late 18th C Late 19th C Late 20th C 9 Schön 2008

14. A new workforce is appearing… 10 “Digital Immigrants” “Digital Natives” Company loyalty Work ≠ Personal Learning=Behind the desk Professional loyalty Work = Personal Learning=Fun and games Mahaley 2008, Merrill Lynch 1999, Beck and Wade, Prensky

16. Community

17. Collaboration

18. Challenge

19. Creationhttp://www.youtube.com/watch?v=MbX_I2fuqJk 11

20. 12 Using the social web to build relationships, find information and knowledge, solve problems, and learn

22. Creating and successfully executing strategies under pressure

24. 13 CEOs on LinkedIn but only 3 have >10 connections

25. 19 CEOs on Facebook but <15 friends

26. 75 CEOs on Wikipedia but nearly 33% of these have limited or outdated information

27. 0% have a blog14 1 http://www.slideshare.net/shazza/fortune-100-ceos-and-social-media?type=presentation

28. Using social media 15 http://adultaddstrengths.com/2008/11/05/obama-vs-mccain-social-media/

29. 16 Increasing pressure on “traditional” organizations Formal organization/ Hierarchy Social organization / Heterarchy Teigland et al. 2005

31. What about social overload and role conflict?

32. Will employees conduct good organizational stewardship?

33. How do we measure and validate the value of web 2.0?Web 2.0 is of a more grassroots nature – implementation in traditional hierarchical organizations results in tension between employees and management Hustad & Teigland 2009 17

34. 18 But…. management cannot mandate social relationships My company has blocked my computer from accessing most of the social media sites. But I feel so cut off from my network. So, now I just connect through my phone. Teigland & Hustad 2009

35. 19 Develop company guidelines for using social media internally and externally Trust your employees, and do not ban social media Use wikis to enable employees to create company guidelines, egIBM, http://www.ibm.com/blogs/zz/en/guidelines.html Yahoo’s guidelines Be respectful of your colleagues Get your facts straight Provide context to your argument Engage in private feedback When trusted, employees feel empowered to do the right thing!

36. Usage of Web 2.0 20 1088 respon McKinsey Quarterly, Sep 2009

37. Building relationships through twitter at Zappos 21

38. Motorola Q – Creating content 22

40. 96 of Fortune 100 as customers

41. 800 employees in 18 countries across globe

42. Facebook Fridays: One hour every Friday on Facebook to find fun and connect with co-workers, customers, family, and friends

43. Average employee age: 46

44. 27 year old Silicon Valley company

46. Informing and engaging the public 25

48. Value from Web 2.0 internal use (% respondents)

49. Increased speed of knowledge access – 68%

50. Reduced communication costs – 54%

51. Improved access to knowledge experts – 43%

52. Reduced travel costs – 40%

53. Improved employee satisfaction – 35%

54. Decreased time to market for products/services and increased innovation – 25%

55. Increased revenue – 14%

56. Increased impact if web 2.0 integrated into employees daily work activities26 McKinsey Quarterly, Sep 2009 http://www.digitalbuzzblog.com/social-media-roi-examples-video-by-socialnomics/

57. Intuit’s Brainstorm 27 http://billives.typepad.com/portals_and_km/2009/10/intuit-brainstorm-offers-innovation-management.html

58. 28 http://bits.blogs.nytimes.com/2009/06/12/dell-has-earned-3-million-from-twitter/

59. 29 The speed of information: The power of social media http://www.youtube.com/watch?v=t8XxcOj3Seo Fortune, Rey 2008

60. Monitor social media sites and react in a timely fashion 30 Friedman 2009

61. 31 But check out HP’s responsiveness! http://www.socialmedia.biz/2009/11/02/why-i-love-public-transportation-and-hate-hp/

62. NextMuni.com 32

63. 33 http://mashable.com/2009/09/29/social-media-transportation/

64. 34 http://blog.ted.com/2009/03/sixth_sense_demo.php

65. Towards 3D Internet SENSORY 3D Internet Thinking Connected Web 2.0 Thinking SecondLife, There Active Worlds, Entropia, SimsOnline, Club Penguin,Habbo, ToonTown, World of Warcraft, 3D planets, VSlide, Protosphere Individual Web 1.0 Thinking Facebook, Friendster, Yahoo, Blogger, Wikipedia, eBay, Typepad, LinkedIn. Amazon, MySpace, Textamerica, Delicious, HubPages Mosaic, Prodigy, Compuserve, AOL, Netscape Level of Interaction Time Hamilton 2008 35

66. The future of 3D internet Before the first plate of aluminum is even bent for production, the passengers will have flown the plane, the crew will have serviced the plane, and the pilots will have flown the plane. CEO of Boeing supplier 36

68. $68 mln invested in 13 virtual world companies600 mln users

70. Shared space/co-presence with possibility for socialization and community

71. In some cases, ability to manipulate/create content

72. In some cases, virtual economy and currencyhttp://www.youtube.com/watch?v=wMOqI3hH9Gs 38

73. “Clearly if social activity migrates to synthetic worlds, economic activity will go there as well.”Castranova http://www.youtube.com/watch?v=-ahqjBeknT0 39

75. Benelux job fair

76. Accenture island

77. IBM island

78. Entrepreneurs

79. Microemployees40

80. 41 Innovation workshops bring together users from across the globe

81. What are the implications for traditional industries? “Soon all fashion designers will be originating their designs and managing the production in virtual worlds….Why such a dramatic change? Economics, pure and simple.” Shenlei Winkler, Director Fashion Research Institute Learn how to become an SL Fashion Designer at Fashiontech.wordpress.com/ 42

82. Which professions will be revolutionized? 43

83. 44 Tomorrow’s education & training? Improving virtual teaming cross-cultural skills Designed by Duke CE and SSE inworld Task: To build a bridge in your virtual team

84. 45 From the mobility of goods to the mobility of financial capital to … ...the “mobility” of labor?

85. 46 DN Aug 20, 1996

87. to build their networks globally - both inside and out

88. leverage social media

89. To win the war for talent

90. To innovate for continuous competitive advantage

91. To build their reputation and brand

92. cultivate an open, knowledge sharing culture47 If you love knowledge, set it free…

93. Tremendous opportunities!!!! 48

94. Thanks and see you in world! Karinda Rhode aka Robin Teigland robin.teigland@hhs.se www.knowledgenetworking.org www.slideshare.net/eteigland Photo: Lindholm, Metro 49