Using social media to engage with stakeholders

Posted by & filed under Social media.

As social media goes mainstream you can see shifts in its use. As a recent McKinsey paper showed C-level execs. must engage in its use. Yet, as a recent Cicero report said, most financial services firms as a whole are not using it effectively.

In our book social media has two principle uses both of which allow firms to understand their stakeholders better. In a world driven by “deep data” this seems an opportunity not to be missed.

Social media allows organisations to monitor and respond to stakeholders – including customers, and suppliers. It also allows organisations to get a much richer understanding of those who are interested in their space or operations; a charity working on welfare reform can immediately see who is saying what about the welfare reform bill. (more…)

Open source lawmaking?

Posted by & filed under Legislation, Open source, Policy, Social media.

Andrew Cowan/Scottish Parliament ©2009 Scottish Parliamentary Corporate Body

By 2002 Linus Torvald’s hobby claimed a 25 per cent share of the global market for server operating systems,1 and had consumed an estimated 8,000 person years of development time.2 It had done all this off the voluntary labour of a large and far-flung community of people who shared only one goal – to build a better operating system, Linux.

In January 2001 Jimmy Wales launched Wikipedia, a web-based encyclopaedia. It wasn’t the first attempt to build an encyclopaedia online, but it did mark a radical change in approach. On Wikipedia any visitor could edit any page, regardless of their qualifications, their motivations or their relationship with the management of the project. (more…)