Is Social Media a Management Breakthrough or Fad? Part 4

BusinessWeek’s March 23-30, 2009 issue focuses on Smart Ideas for Tough Times which describes how managers are trying new things to weather the downturn.  The most interesting part of the series covers 11 management ideas that are the basics of any business education, but were quite revolutionary at the time.

This 4 part series (See Part 1 here, See Part 2 here, See Part 3 here) will examine these ideas alongside social media to see if we are witnessing a world-changing idea, or just another management fad.  First, here is the recap from BusinessWeek:

Some of the most powerful and lasting management methods were launched during tough times, when companies needed new ways to manage costs and grow. Here is a look back at some of the biggest ideas over the past 100 years.

1910 – The Assembly Line Explanation

1920 – Market SegmentationExplanation

1931 – Brand ManagementExplanation

1943 – Skunk WorksExplanation

1950s – Lean ManufacturingExplanation

1967 – Scenario PlanningExplanation

1973 – 360 ReviewExplanation

1987 – Six SigmaExplanation

1989 – OutsourcingExplanation

1990 – ReengineeringExplanation

2000s – Open InnovationExplanation

#11 – Reengineering

The Breakthrough: Radically redesign business processes to make them more efficient by removing functional silos and focusing resources on end to end processes.

The Question: Can Social Media help businesses effectively organize resources around complete processes to make them more efficient?

The Answer: Yes, empahtically!

#12 – Open Innovation

The Breakthrough: Companies should look beyond their R&D departments to customers, suppliers, and even competitors for innovative ideas.

The Question: Can Social Media help companies discover ideas while still allowing for control over Intellectual Property rights?

The Answer:  Probably Yes

Posted on April 5, 2009 at 4:52 pm by Ben Foster · Permalink
In: Leadership and Management, Strategy · Tagged with: , , ,

2 Responses

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  1. Written by Matt
    on April 6, 2009 at 5:08 am
    Permalink

    Ben,

    Social Media can definetly help with Open Innovation, if it is done right.

    Check out Cisco I-Prize
    http://newsroom.cisco.com/dlls/2008/ts_071408.html

    And Data Visualization of Global Participation
    http://www.youtube.com/watch?v=ajrIGbvfMtU

    Matt
    twitter: @brightidea

  2. Written by Matt
    on April 5, 2009 at 11:08 pm
    Permalink

    Ben,

    Social Media can definetly help with Open Innovation, if it is done right.

    Check out Cisco I-Prize
    http://newsroom.cisco.com/dlls/2008/ts_071408.html

    And Data Visualization of Global Participation
    http://www.youtube.com/watch?v=ajrIGbvfMtU

    Matt
    twitter: @brightidea

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