Business Week's cover story (spotted via Swiss Miss) comes back to a seminal article it published way back in 2005. The piece, all about how blogging will change your business, was written at a time when 'twitter' was still something to do with birds.
Though times have moved on, the piece continues to be near the top of the tree when it comes to the most read pieces in the Business Week archive. It's a first port of call for people doing research on the subject. As a result, the authors have taken another look at the phenomenon three years later.
In hindsight, say the authors:
"We wrote a big story, but missed a much bigger one."
While 'only' a quarter of the US population reads a blog (the emphasis is mine as this still translates into tens of millions of people), blogs are just one of the many 'do it yourself' tools out there on the Internet, which pundits collectively, and maybe somewhat inelegantly, call 'web 2.0.'
"While only a small slice of the population wants to blog, a far larger swath of humanity is eager to make friends and contacts, to exchange pictures and music, to share activities and ideas.
"These social connectors are changing the dynamics of companies around the world. Millions of us are now hanging out on the Internet with customers, befriending rivals, clicking through pictures of our boss at a barbecue, or seeing what she read at the beach.
"It's as if the walls around our companies are vanishing and old org charts are lying on their sides."
As a result, say the authors, the first thing they have decided to do is to lose the word 'blogs' from their headline. The revised 2008 title? "Social Media will change your business."
In terms of how that is happening, the article uses a few examples:
'The new resume (CV) is 140 characters.' Micro-blogging platform Twitter has netted a lot of attention over the past few months. Post short blog type messages of 140 characters via your mobile phone (or a PC), which people elect to 'follow'. The authors give an example of a PR executive who found a job by posting her CV on Twitter.
Corporate players have suddenly become much more accessible. These days if you are trying to reach someone within a business, especially in either technology or entertainment, you can often by-pass their press office and go direct to their blog or social network profile. The authors did exactly that with (telecom giant) BT's head of technology, J.P. Rangaswami.
Online collaboration tools shrink geographical barriers. We've posted before about how virtual offices are being built in the likes of Second Life, and a lot of companies like BT are starting to use 'Wikis.'
Most people have heard of the community encyclopedia Wikipedia, and 'Wikis' are web pages where anyone in a group can modify and add content - in effective real time, online, project plans.
And with all the talk about falling (print) newspaper circulations what about the media? Back in 2005, the authors thought that blogging would make traditional media obsolete. The reality is a little different.
Instead, says Arianna Huffington, one of America's most followed bloggers (and the Queen of the US / left blogosphere):
"The growth of New Media journalism will be a hybrid combining the best aspects of traditional print newspapers with the best of what the Web brings to the table. We're getting a glimpse into this with the many changes afoot at Old Media places like the The New York Times, and from New Media players like, well, like the Huffington Post.
"The shifting dynamic between the forces of print and online reminds me of Sarah Connor and the T-101 in The Terminator. At first, the visitor from the future (digital) seemed intent on killing Sarah (print).
"But as the relationship progressed, the Terminator became Sarah and her son's one hope for salvation. Today, you can almost hear digital media (which for some reason has a thick Austrian accent) saying to print: "Come with me if you want to live!"
The full article is available here.
Photo - Social media starfish, from Dbarefoot under a creative commons license.
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