When should a Firm Engage in Social Business?

When should a Firm Engage in Social Business?

Businesses are increasingly attempting to participate in social business. In order to create value by using social approaches, Koster, Lesser and Cortada argue that 2 crucial questions should be asked before engaging in such social business. These two questions are the following:

1. Customers: Does social media enable your company to find the right consumers, enhance their online experiences and to get to know customers’ ideas and desires?
2. Employees: Does your social business strategy enables your representatives to search the world for new experiences, knowledge and skills and to learn and apply what is learned?

Source: Korsten, P.J. Lesser, E. And J.W. Cortada (2013) “Social Business: An Opportunity to Transform Work and Create Value” Strategy and Leadership Vol. 41 Iss. 3 pp. 20-28