Research is critical for business. The systematic investigation about what is necessary for a given business, product, audience is something that any organisation needs to bear in mind, namely in a social media world. This can also be done though a concept of Open Research: a study of materials and sources in order to establish facts and reach the necessary conclusions about business.
Open Business Council in the ever increasing competitive landscapes, blurring and with bigger consumer demands is working and defends an open business approach with focus in agility. This is the only way for business’ capability to adapt rapidly and cost-efficient to that landscape and its target audiences. This is a critical area where the enablers – social media and co-creation – fuel business agility through continual innovation.
Social media as a doorway for opening up business
y using social media as a doorway and opening up business, entities that actually force/create the changes in demands are involved, to swiftly act and react with them and their intelligence. This applies to any supply- and value chain. When speaking about intelligence, this can be consumer insights (their needs and current experiences, market intelligence and competitive intelligence.
As resources spend in digital peer-to-peer environments rise, it is necessary a rapid and consequential change in the digital and social marketing way of management for organizations. Business needs to be open and to take control – to get serious with his propositions and efficient. The organization as a whole: infrastructure, work flows, stakeholders, technologies and so on, needs to be reconfigured and enhanced where needed for cost-efficient and effective social media usage. As soon as as the groundwork has been laid, it’s time to bring in the continual innovation process.
Continual innovation as the driver for business
Continual innovation “may be the most powerful of any competitive advantage for a business. It creates game-changing breakthroughs. Along parallel lines, bit by bit, it also tweaks improvements in existing products, chips away at costs and debugs processes — in every corner of the company, all non-stop. In a turbulent business environment like today’s, it’s essential for helping a business move from playing defense to playing an aggressive, and winning, offense.” Take this and overlay it with social media and co-creation, real-time consumer insights that can be extracted, molded and poured back into the right supply chain.