(1888PressRelease)
February 18, 2009 - In a recent podcast interview for Management Issues (http://www.management-issues.com/2009/2/12/podcast/the-working-week-88.asp) Power, founder of social business network Ecademy (www.ecademy.com) used Amazon as a classic example of why embracing social media is no longer an option in business, but a necessity, and that companies who don’t will end up becoming dinosaurs of the industry as others take the lead.
Power says that it is not good enough just to bolt new world business methods onto an existing model, but explore ways to evolve the business so that it becomes a core part of the business function. It is this, says Power, that will make the business flexible and able to adapt to the changing needs of its customers and the marketplace.
“When the ecommerce world emerged in the 1990’s everyone saw ecommerce as just another tactical thing that a company needed to do, create a team to sell through that channel, but it was never built into their core processes. We are now seeing the fall-out from this. Newer businesses like Amazon were created and now they have the potential to sell anything because they have the processes in place to do so, along with the market reputation. Amazon could be a dangerous competitor for pretty much anyone in the market, they could even start selling insurance or be a bank if they wanted to, now the trust is there, the opportunities are endless”, says Power.
Power claims that social media is the new way in which business can build processes to enable lower costs whilst also hearing what their stakeholders are saying about them, 21st Century business is about trust and conversation, Social Media enables the large brands to have this.
“People in the 21st Century no longer wish to be broadcast to but are actively involved in discussions and conversations. Two way dialogue is becoming common place in many modern businesses who have been able to remodel their offering for a changing marketplace, leaving little place for those who choose not to follow suit”, says Power who founded Ecademy in 1998, which now has over a million users worldwide.
For press information, hi res images or to arrange an interview please contact Rebecca King on 01603 283 506 or email rebecca ( @ ) mediajems dot co.uk
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