Risk Angles | Risk Angles: Five Questions on Social Business | Governance, Risk and Compliance Social business opens the door to drastically different, potentially disruptive ways to engage with, learn from and collaborate with customers, suppliers, employees, and even the general public. In fact, in the 2013 Social Business Global Executive Study and Research Project¹, a clear majority of respondents said social business has the opportunity to fundamentally change the way their organizations work. What surveys can’t reveal is whether the impact of social business on these organizations will be positive or negative. This can hinge on how well the associated risks are managed, which can include compliance, security, reputational and employee-related risks, among others. In this issue of Risk Angles, Steve Lunceford, specialist leader with Deloitte Digital, Deloitte Consulting LLP in the United States, answers five questions about social business risk, and Joost Toussaint, director of Risk Services, Deloitte Netherlands, takes a closer look at compliance-related risk. Return to top
Moving beyond marketing: Generating social business value across the enterprise Executive Summary This year’s MIT Sloan Management Review and Deloitte1 global survey found clear evidence that companies across industries are creating value with social business. A key finding is that social business value is a function of what we call social business maturity — the breadth and sophistication of its initiatives. In this year’s report, we detail the drivers of that maturity and how companies are using social business to transform their organizations and reap greater gains from their social business efforts. The following are highlights of our findings: Social Business Grows Deep Roots Social business is perceived as important both today and in the future. Measurement sophistication is starting to prove its value. Social business is not just a B-to-C phenomenon. Employees want to work for companies that excel at social business. Social Business Maturity Translates Into Value Social business maturity is related to the level of results companies achieve. The B-to-C Myth