Social Media is Transforming Business

CIO Insight reminds us that there once was a time not so long ago when business discouraged or forbid employees entirely from posting comments on Facebook and other social media sites. Today, according to CIO, at least four out of five companies either actively use social media or are planning to do so. Social media's immediacy, accessibility, and flexibility takes collaboration to the next level, as workers initiate communication with vendors, customers and, each other. Social media allows a company to respond to consumer complaints, praises, and general observations in real-time, breaking down the barriers that once existed between an organization and its customers. HR in particular has embraced social media usage: three-quarters of organizations have successfully hired a candidate this way (up from only 58 percent in 2010).

In a new book, "A World Gone Social: How Companies Must Adapt to Survive," authors Ted Coiné and Mark Babbitt discuss how social media is profoundly changing the very essence of our corporate culture and business strategies. Coiné is chairman and co-founder of SwitchandShift.com, a blog focused on leadership, culture and change, and was recently named a Forbes Top 10 Social Media Power Influencer. Babbitt is CEO and founder of YouTern, a social community for college students, recent graduates and young professionals.

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