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Social Media (SM)

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is the use of information technology to support the sharing of content among network of users. -it enables people to form communities, tribes, or hives -people are related by a common interest

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Social Media Information System (SMIS)

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-an information system that supports the sharing of content among network of users -it costs to develop, implement, and among social networking procedures

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Social Media is composed of...

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-psychology -sociology -computer science -MIS -marketing -organization theory but we will put our focus on the MIS portion

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Three SMIS organizational unit Roles

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1. user communities (ex: you and your friends) 2. social media sponsors (ex: Nordstorm.com, Zulily.com, Microsoft.com) 3. Social Media application providers or Horizontal Application Provider (ex: Facebook, Twitter, LinkedIn, Foursquare)

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Social Media User Communities

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-they are formed based on mutual interests and transcend familial, geographic, and organizational boundaries -Community A: is a first tier community consisting of users with direct relationships to the site. User 1 belongs to 3 communities: A, B, and C. -Communities B-E are second tier communities intermediate by a first tier user -the number of second and higher tier community members grows exponentially

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Exponential nature of relationships offers sponsoring organizations

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both a blessing and a curse

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If social media site wants pure publicity then

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it will want a viral hook to relate to as many communities as possible

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Social Media Sponsors

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companies and other organizations that choose to support a presence on one or more social media sites -when microsoft places icons on its promotional pages, it is making a commitment to invest considerable employee time and other costs to support social media

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Social Media application providers

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-Facebook, Twitter, LinkedIn, Google -sponsors might pay a fee, depending on application and what they do with it -creating a company page on Facebook is free but fees are charged to advertise to communities that "like" that page -custom developed social media for company using sharepoint for wikis, discussion boards, and photsharing

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because its information system, SMIS have the same 5 components as all IS:

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-hardware -software -data -procedures -people

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Social media application providers host the social media presence using

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elastic servers in the cloud -develop and operate custom, proprietary, social networking application software

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Social Media Data falls into two categories:

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connection data and content data

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Content Data

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data and responses to data contributed by users and social media sponsors

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Connection Data

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data about relationships

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Social media is creating

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new job titles, new responsibilities, and need for new types of training

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Social Media is not free

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-costs to develop, implement and manage social networking procedures -direct labor costs for employees who contribute to and manage social networking sites

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Hyper-social organization theory

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-describes how social media contributes to the primary value chain activities -Gossieaux and Moran, who created the theory, stated that two kinds of communities are important to commerce: Defenders of Belief and Seekers of the Truth

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Defenders of Belief

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-share a common belief and form their hive around that belief -seek conformity and want to convince others of the wisdom of their belief -facilitate activities like sales and marketing -form strong bonds and allegiance to an organization

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Seekers of the Truth

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-share a common desire to learn something, solve a problem, or make something happen- but not a common solution -such tribes incredible problem solvers and excel at innovation -can be useful in customer service activity

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Social Media and the Sales and Marketing Activity

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-relationships between organizations and customers emerge in a dynamic process -each customer crafts relationship -wikis, blogs, discussion lists, frequently asked questions, sites for user reviews, other dynamic content -customers each comment, contribute reviews and commentary, ask questions, and create user groups

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Social Media and Customer Service

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product users help each other solve problems -selling to or through devloper networks most successful. -primary risk is the loss of control (seekers of truth will seek truth, even if that means recommending another vendor's product over yours)

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Social Media and Inbound and Outbound Logistics

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-seekers of the truth communities provide better and faster problem solutions to complex supply chain problems Social media fosters content creation and feedback among networks of users that facilitates iteration and feedback needed for problem solving. -Supply chain problem solving via social media is problem solving in front of your competitors.

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Social Media and Manufacturing and Operations

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-Crowdsourcing -Enterprise 2.0 -folksonomy -SLATES

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Crowdsourcing

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dynamic process of employing users to participate in product design or product redesign

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Enterprise 2.0

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application of social media to facilitate cooperative work of people inside organizations

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Folksonomy

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unplanned structure

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Enterprise 2.0 is defined by six characteristics (SLATES model)

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Search, Links, Authoring, Tags, Extensions, Signals

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Social Media and Human Resources

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-Employee communicate using internal personnel sites Ex: MySite and MyProfile in SharePoint. -Used for finding employee prospects, recruiting candidates, or candidate evaluation. -Place for employees to post their expertise. -Risks: Forming erroneous conclusions about employees. Becoming defender of belief or pushing an unpopular management message.

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3 types of business capital

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-physical capital -human capital -social capital

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Physical Capital

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-investoment of resources for future profit -produce goods and services -ex: factories, machines, manufacturing equipment

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Human Capital

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is the investment in human knowledge and skills for future profit

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Social Capital

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investment in social relations with the expectation of returns in the market place

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Value of Social Capital:

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number of relationships, strength of relationships and resources controlled

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Social Capital Adds Values in 4 ways

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1. information 2. influence 3. social credentials 4. personal reinforcement (of professional image or status)

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Relationships in social networks can:

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-provide information about oppurtunities, alternatives, problems, and other factors important to business professionals -provide an oppurtunity to influence decision makers who are critical to your success -be a form of social credential -reinforce a professional's image and position in an organization or industry

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How do Social networks add value to businesses?

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Today Progressive organizations: -maintain presence on Facebook, linkedin, twitter and other social media sites -encourage customers and interested parties to leave comments -risk: excessively critical feedback

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Three ways to increase social capital

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1. ask them to do you a favor 2. frequent interactions strengthen relationships 3. connect with those with more assets

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Strength of a relationship

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likelihood a person or organization in the relationship will do something that will create valuable benefits

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Social Capital Equation

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=Number of Relationships X Relationship Strength X Entity Resources

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Social capital depreciates, but can be ameliorated by

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adding something of value to the interaction

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Hyper social organization

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an organization that uses social media to transform interactions with customers, employees, and partners into mutually satisfying relationships with them and their communities

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4 Pillars of the Hyper-Social Organization

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Consumers-->Humans Market Segments--> Tribes Channels--> Networks Structure & Control--> Messiness

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SEAMS dynamic process activities

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-Sense: important communities -Engage: in relationships -Activate: connect communities with internal value chains -Measure: success in terms of social capital -Story Tell: publicize community successes

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SEAMS activities and SMIS

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-many organizations have a few key users (employees) trained to perform SM engagement tasks. -nonkey users submit ideas and reposts to key users for publication in communities. In this way key users serve as buffer and a filter for possible inappropriate content -active lurke, someone who reads, consumes, and observes activity in one social medium, then broadcasts it in some other medium

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Web 2.0

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web-delivered services and content that are paid for by advertising

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Key characteristics of Web 2.0

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-pay per click revenue model: in which advertisers display ads to potential customers for free and pay only when the customer clicks -use increases value: meant the more people used a site the more value it had and the more people would visit -mashups: occur when the output from two or more web sites is combined into a single user experience

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Social Media Policy

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a statement that delineates employees' rights and responsibilities -the more technical the organization, the more open and lenient its social policies

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Intel's three pillars of social media

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1. disclose: be transparent and truthful, be yourself 2. protect: don't tell secrets, don't slam competition, don't overshare 3. use common sense: add value, keep it cool, admit mistakes

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SQL

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-stands for structured query language -standard language for accessing databases -select, insert, update, and dlete

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HTML

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-hypertext markup language -the language of webpages -its a tag based language (tags for bold, underline, hyperlink etc) -World wide web consortium W3C is what established the standards for web/internet technologies -HTML contains a number of predefined tags used to format webpages

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XML

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-extensible markup language -tag based language for data documents (allows us to create our own tags) -data transmission that uses tags and html is webpage formatting that uses tags -first thought when you hear xml: data document

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HTML and XML

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-both are governed by the W3C -HTML provides the tags and XML has small number of predefined tags and the rest are just made up by everyone

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two ways to store data in XML document

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-as an element or as an attribute -data value as part of a tag= an attribute -data values between tags= element elements can contain other elements

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Explain the role of SQL, HTML, and XML in our modern economy

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-first, define all three of them. Structured query language used to manipulate tables and databases. Xml is exntensible markup language used to build data documents that can be transmitted electronically between two company's systems. HTML is used to format web pages that people use to interact with the systems.

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Web 2.0 (wikipedia)

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-Web 2.0 describes World Wide Web sites that emphasize user-generated content, usability, and interoperability -A Web 2.0 site may allow users to interact and collaborate with each other in a social media dialogue as creators of user-generated content in a virtual community, in contrast to Web sites where people are limited to the passive viewing of content.

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Social Commerce

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Social commerce is a subset of electronic commerce that involves social media, online media that supports social interaction, and user contributions to assist online buying and selling of products and services.

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Social Network

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A social network is a social structure made up of a set of social actors (such as individuals or organizations) and a set of the dyadic ties between these actors

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Social Capital

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In sociology, social capital is the expected collective or economic benefits derived from the preferential treatment and cooperation between individuals and groups. Although different social sciences emphasize different aspects of social capital, they tend to share the core idea "that social networks have value".

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