In our research and client work at Altimeter, one of the most misunderstood issues we see is social business governance. I’ve seen it defined as everything from social media policies and risk management to organizational structures. My colleague Ed Terpening and I just published a report on how to think about governance – and in particular, the crucial role it plays in supporting strategy (download here). Strategy and governance are natural partners: Strategy lays the groundwork for new opportunities while governance ensures safe execution, managing the risk of change.
Yet our research found that only 16% of organizations feel that governance is well understood and deployed. Many organizations can’t answer crucial questions such as: Who owns social? How are key decisions made? How do we organize to execute social? How do we manage risk as we scale social across the organization? Left unanswered, organizations face significant risks, including threats to brand health as the result of inappropriate or disjoint social practices. More importantly, organizations can’t truly scale social into a business strategy unless governance is addressed.
Our definition of social business governance is:
An integrated system of people, policies, processes, and practices that defines organizational structure and decision process to ensure effective management of social business at scale.
The report is filled with data, sample policies, checklists, and case studies. In the end, you need to ask yourself how your social business governance actively supports the execution of your strategy. The capstone of the report is a social business governance maturity map, which I’ve included below. Where does your organization fall on this chart?
We’d love to hear where you are in your social business governance – and to contact us if you have any questions or need help with your governance roadmap. My report co-author Ed Terpening is far too modest to toot his own horn so allow me. He led Wells Fargo’s social media efforts for 7 years from its inception in 2005 until he joined Altimeter two years ago. At Altimeter, he’s helped numerous organizations design governance systems along with their social business strategies. You’ll have a chance to talk with me and Ed in an upcoming webinar, on Tuesday, December 9th at 10am PT. Bring your questions as well as your best practices and war stories – we’re looking forward to learning together with you at the webinar, and in our continued mutual quest to master social business governance.
In our research and client work at Altimeter, one of the most misunderstood issues we see is social business governance.
As we launch into 2014, the analysts at Altimeter each pulled together a compilation of trends and issues they are watching closely this year.
I am thrilled to announce the promotion of Andrew Jones to Analyst at Altimeter.
Co-written with: Susan Etlinger, Rebecca Lieb, Andrew Jones, Linda Saindon, Brian Solis, and Ed Terpening The not-so-long awaited Twitter S-1 is out and now the intense scrutiny begins.
Jeremiah Owyang will be leaving Altimeter Group at the end of September to start a new company focused primarily on his passion for the Collaborative Economy.
As the founder of a small business, I know that the hiring and departure of each and every person makes a huge impact of the firm — and that this is an evitable part of the business.
Five years ago, I started a company. At the time, it was simply just me deciding I wanted to do something different. I learned it was by far the hardest professional decision I have ever made, to strike out on my own.
Businesses may be seen as having a “successful” social strategy by virtue of citations in case studies and speaking at conferences. But, by far, the best metric of success is concrete examples of how the organization creates business value via social technologies across multiple departments and dimensions of their business.
Altimeter continues to grow with the addition of Ed Terpening as Senior Consultant, where he will be leading Altimeter’s client engagements and develop Altimeter Academy the company’s new training offerings.
In 2011, the US hit a milestone — more than half of all adults visit social networking sites at least once a month. But when it comes to using social-networking technologies inside organizations, many business leaders are at a loss to understand what value can be created from Facebook-like status updates within the enterprise.
One question I frequently get is “How much should I be spending on social media?” The answer, of course, is it depends. This report looks at how 140 Social Strategists spent on social media in 2010 — and their plans for 2011 (read report).