Social Media for Strategy-Focused Organizations
Social media are useful for more than just social connectivity and entertainment. Political revolutionaries are using social networks to topple regimes (e.g., Egypt, Tunisia), and angry customers can launch social-media campaigns against organizations (e.g., the Dell Hell blog). Organizations can do more than simply react to society's embrace of these new capabilities. In the hands of a Strategy-Focused Organization, Web 2.0 technologies become "social business" tools and processes, and enable collaboration among employees, partners, and customers. In this article, we focus on the significant benefits that leading organizations are realizing from the integration of social business processes with strategy management frameworks. In particular, we learn how social businesses have tackled some of the perennial challenges of implementing the Kaplan-Norton Management System, including building effective strategy maps, achieving alignment, and gaining the Execution Premium. We use the term "Social" to denote the class of new and emerging tools that enable new forms of communication and collaboration.