November 8, 2011

News & Opinion: The End of Business As Usual

By: 800-CEO-READ @ 10:42 PM – Filed under: Management & Workplace Culture

This new book, The End of Business As Usual: Rewire the Way You Work to Succeed in the Consumer Revolution, by new media expert Brian Solis, is another firm reminder to companies that understanding social media will help them better understand their customers. In 2010, Nielsen research determined that 22.7 percent of people were using social networks, up 43 percent over the previous year. The fact that companies can find their customers in one place is helpful. But the fact that they can reach their customers connections is something not easily facilitated previously. As the title of chapter 7 states, "Your Audience Is Now an Audience of Audiences with Audiences." This idea should open companies eyes to this technology more than ever. But not just because of the marketing opportunities. While Solis' book definitely makes a case for the possibilities within hyper-connections, what's more interesting, as this chapter title and the overall book describe, is the intensely changing landscape of business that we're in, and as these changes continue to occur so rapidly, business, historically, hasn't prepared itself to change as quickly as technology and it's users are driving it to. This video by Solis elaborates: For some, this era will truly be the end of business. But for others, it's a time of great opportunity. The book states:
In just a few short years, we witnessed how people-powered Wikipedia displaced industry giant Britannica as the world's encyclopedia. The so-called wisdom of the crowds is now forming a power of the crowds, creating a new form of group buying to unlock amazing deals online and in the real world. Groupon, LivingSocial, Facebook Deals, and the countless others that are emerging empower groups of people to buy and save together, and in turn, share these opportunities with those to whom they're connected online and offline.
Data heavy, case study heavy, and research driven, The End of Business as Usual is a book we should have read a couple years ago. But, it's better late than never.