Turbotodd

Ruminations on IT, the digital media, and some golf thrown in for good measure.

Archive for the ‘transparency’ Category

Turbo Slidecast: Organizing For Social Business

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I mentioned in a post recently that I was to speak at the annual WOMMA Summit (WOMMA standing for “Word Of Mouth Marketing Association”) about IBM’s efforts to better organize itself to take advantage of the social business opportunity.

After lumbering through the SlideShare “slidecast” capability and learning my way around (and no, it really wasn’t that difficult — I’m just a slow learner), I was able to create a slidecast of the presentation I gave in Las Vegas for those of you who may be interested.

As I noted in that blog post leading up to my talk, the general theme of my session there centered on the challenges and opportunities larger organizations face as they go about building their social strategies, and sharing particular insights and experiences we’ve had inside IBM on this front.

At IBM, our social business strategy has very much centered around one of our best market-facing emissaries, the IBMer! If you’ve kept pace with any of our marketing initiatives in recent times, you know that the IBMer is front and center in those communications, most notably in our TV advertising, but also extensively in the digital and social media as well.

But their participation doesn’t end there.

We’ve featured subject matter experts extensively across a wide range of topics and across a range of venues in the digital and social media space, as well as in other public and sometimes private venues (think conferences, events, customer meetings, etc.).

This direction is very much in keeping with IBM’s high-touch sales heritage, but builds on that legacy by making our people more accessible via social venues as well.

So, please, take some time out of your busy day if you’re interested in learning more about IBM’s social business efforts, and hopefully you’ll walk away with some of the actionable insights we’ve garnered that can help you and your organization in your own social business journey.

Just click on the arrow to play, kick back, and relax!

IBM Survey: Social Media Impacting Threats From Reputational Risk

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More than 400 respondents in 23 industries across the globe agree: managing reputational risk is crucial to their business, and managing IT risk is a major part of their efforts. And, social media is cited as a major factor for those shifting more focus to their reputational risk management efforts. Learn what these respondents are doing — and what they’re overlooking — in the 2012 IBM Global Reputational Risk and IT study report.

So here’s a question for you?  What is your organization doing to more effectively manage its risk profile?

IBM recently released its 2012 Global Reputational Risk and IT Study, and the findings suggest that companies are viewing their IT investments through a new lens.

First, some background, and then a summary of the findings.

This study is an investigation of how organizations around the world are managing their reputations in today’s digital era, where IT is an integral part of their operations and where IT failures can result in reputational damage.

The report was written by the Economist Intelligence Unit, which both executed an online survey and conducted client executive interviews.

That included 427 senior executive responses from around the world, 42 percent of those being C-level, with 33 percent of respondents coming from North America, 29 percent from Europe, and 26 percent from Asia-Pacific.

The survey included industries that ran the gamut, including banking, IT, energy and utilities, and insurance.

Impact of Social Media On Risk

Corporate reputations are especially difficult to manage in an era when anyone with a smartphone and Internet connection can file their complaint with a single touch.

With social media sites like Facebook and Twitter boasting over 1.4 million people combined, there is now a highly visible and immediate alterative to a company’s own communications regarding its reputation.

Because of that, more organizations have introduced reputational risk as a distinct category within their enterprise risk management frameworks.

The study suggests that companies have begun to pay closer attention to the links between IT failures and reputational damage, and also examines how executives are attempting to protect their brands from what could arguably be called “a preventable glitch.”

So, drum roll, please.  Here’s a summary of some of the key findings:

  • IT risk management and investment directly supports a company’s reputation.  Reputational risk has evolved into an asset that is fundamentally supported by IT planning and investment.  78 percent say they included reputational risk in their own IT risk planning, and 75 percent say their budget will grow due to concerns for such. Eighteen percent indicate that spend will increase by more than 20 percent in the next 12 months.
  • The CEO owns it but shares it. When asked to name the top 3 C-level execs who owned reputational risk, close to two-thirds say it was shared across the C-suite. 80 percent of CEOs indicated it was theirs to win, followed by 31 percent of CFOs, 27 percent of CIOs, 23 percent of CROs (Chief Risk Officers), and 22 percent of CMOs.
  • Five characteristics of highly effective companies — they get reputational risk and invest in it. Of those who do, 83 percent indicated they have integrated IT into their reputational risk management regimes. They also perceive stronger links between IT threats and key elements of reputation (especially customer sat and brand reputation), and they also say they have strong or very strong IT risk management capacity (84 percent). Seventy-seven percent indicated they have well-resourced IT risk management functions, and are more likely to require vendors and supply chain partners to meet the same levels of control as they require internally.

Improving Reputational Risk Management: Best Practices

So what’s a concerned C-level exec to do? The study revealed several core strategies:

  • Be proactive rather than reactive. That is, be prepared to invest in developing comprehensive reputational risk management strategies that include robust controls on IT risks, particularly those related to security, business continuity and tech support.
  • Create an organization where IT managers collaborate with other risk management specialists. Together, they should be tasked with presenting a comprehensive profile of organization-wide reputational risks to senior management.
  • Engage in scenario analysis, especially with new and emerging technology. Don’t wait for the worst to happen — there are plenty of case studies to be used as a basis for “what-if” planning.
  • Assess risks across the entire supply chain. A failure by a downstream supplier can be just as devastating as an internal problem, and risk controls can be harmonized among key players.

A More Integrated, Holistic Approach

This more integrated, enterprise-wide approach to risk management — led by the C-suite on down — can help your organization increase the attention being paid to the direct reputational impact of IT risks, and help you mitigate those risks (including those stemming from the use of new technologies).

To learn more and to gain access to the full study, go here.

Full Disclosure

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It’s a good thing the U.S. Federal Trade Commission released its new changes to its Guides Concerning the Use of Endorsements and Testimonials in Advertising yesterday.

They were last updated in 1980, and, well, the world has changed a little bit since then.

With the new guidelines, bloggers, in particular, are impacted.

Moving forward, bloggers who fail to disclose they have received freebies when they write about a product can now be fined up to $11,000 per post.

For the record, the last freebie I remember getting was a really cool FlipVideo camera at the Search Engine Strategies Conference, from the search metrics firm Covario.

However, I didn’t blog about it, so I’m probably being overly transparent here.

However, it sounds like with these new guidelines, that’s the order of the day.

While I’m at it, I may as well go ahead with some other full disclosures.

In the 1980s, I listened to Rick Springfield…and actually liked some of his songs.  REO Speedwagon, I can honestly say, I hated just about every song.

I was a member of the Future Farmers of America, and in fact, was the actual president.  I’m sure I’m the only FFA president who wore Van Halen t-shirts and topsiders.

I went to rodeo school once, way back in 1982.  The horse threw me and dragged me around the Kowbell Arena in Mansfield, Texas, and thus ended my illustrious rodeo career.

When I lived in New York City, I was a bicycle messenger on two separate occasions, and got hit by three different cabs…including the last one which “doored” me and sent me in my only ambulance ride to Bellevue hospital.

When I was in Paris once, I ate at a McDonalds (although I have to say, they took the Egg McMuffin and really made it their own — it was the best Egg McMuffin I’d ever had, and McDonalds is definitely not paying me to say that).

Worse yet, that particular McDonalds was literally down the street from Le Louvre.

I also ate at a McDonalds in Tokyo (it was the cheapest breakfast I could find), and their Egg McMuffins weren’t bad, but not nearly as good as the French.

The fact that the French make a better Egg McMuffin than we do in America is definitely worth the price of full disclosure, which in this case is nada, zip, zero.

I still smoke cigarettes, mostly when I drink and heavily when I’m traveling in Europe and Asia, not nearly as much back on the home front.

My favorite domestic beer is Budweiser, which in the spirit of full disclosure can’t, I don’t believe, still be identified as being a domestic beer since Anheuser-Busch was bought by InBev.

My favorite imported beer would probably be a three-way toss up between Westmalle, Bass, and Guinness…and for the record, I’ve visited Belgium, England, and Ireland.

My new favorite blogging software is the one I’m currently blogging on, WordPress.  WordPress apparently doesn’t charge me anything to use their blogging software, but they also don’t pay me anything to say good things about them.

I’ll be sure to tell you if that changes anytime soon.

Written by turbotodd

October 6, 2009 at 4:05 pm

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