Future of socially empowered corporations
In the light of recent global developments, there has been a common link between social media and political revolutions. Ordinary citizens were found knocking down the oldest ruling dictators using Facebook and Twitter. From Tunisia to Egypt to Libya and Syria, the so- called Arab Spring brought waves of liberation to the region. Not limiting itself, the social media expanded to more democratic countries and brought out young people to protest against unemployment, corruption and exclusionary politics, for which Spain and India remained in the limelight.
Through all these events, people witnessed an immense empowerment of the social media. The corporate sector cannot remain isolated from any social growth. Hence, in a unique manner, the power of social media is entering the corporate cycle. Experts are increasingly reflecting on the increasing power of employees and consumers of a typical corporate centre as well as a not- for- profit organization. They conclude the fact that with the emergence of social media, the idea of dominant voice has become more relevant to individual employees and consumers. Thus, the hierarchy that fundamentally empowers the few and leaves many less empowered is disappearing.
With such an empowered social paradigm of organizations, there is a unique competitive corporate environment in play. In this new world of business, companies and leaders must not only believe but also display authenticity, fairness, transparency and good faith in each little step they take. The older corporate settings are having a hard time with social media, as they are not cognizant with this modified nature of accountability. But experts suggest the overall changes as favourable for a bright future for business and society globally.
With the use of social media tools, the organizations are becoming more concerned about what is being said about them. Hence, they are becoming more reflective of the will of their consumers. Interestingly, under such democratic setups, entrepreneurial businesses have become activist forums. There are fresher ideas, effective business plans and a passionate eagerness to achieve goals. Social media has enabled each employee to take part in the designing of how the organization should work. The newly armed employees have become a source of creativity and innovation to take the organizations forward. A growing number of executives are converts to this point of view from the earlier stance of restricting the flow of organizational knowledge and exercising full control over the implementation of strategies.
Moreover, the corporate sector has undeniably become a part of an automated social enterprise system, where absence of trust and weaker connection with the people simply automates elimination of that organization by the surrounding system. The social empowerment of people has also become possible due to the phenomenon of ‘ viral consensus’ through social media.
Millions of people become part of an ongoing corporate or global issue in no time. The issue either gets greater hype or is immediately discarded depending on its worth. This is how people democratically decide what is important to them.
Through social media it is also easier to turn oneself into a corporate personality. By maintaining an impressive online profile and participating in the social media movements, one cannot be ignored in the corporate circle. Potential employees are constantly sought over the media and executives enjoy progress through the virtual world growth of their business.
This information- based virtual world has not been able to empower an organization through information hoarding by the employees. Information sharing is the key to an empowered corporate setting. There is better collaboration within the working teams and a strong cost- effective end product with least possible friction