My blog posting activity has been on the light side recently. This posting marks the return of more regular postings.
Wealth of networks
If you have not yet read The Wealth of Networks by Yochai Benkler, can I recommend that you do. The main theme of the book – that the networked information society creates social value – is at once a great challenge for the 21 century, and is also one of the great opportunities.
It’s challenging to those that hold dearly on to the main elements of 20th century market economies: exclusivity, wealth measured in monetary terms, the organisational power of the firm, the nation state, consumerism and the media. The networked information society is challenging to accountants, economists and management consultancies, the rationale of all being bound by the main elements of market economies.
Information is not scarce. Knowledge is not bound by centralised control. Indeed, the value of knowledge and information grows with sharing. Networked social value is not exclusive property. Not only is it possible for people to be well-organised in networked relationships online, it is actually very easy – and adaptive and resilient too. The value of networks transcends organisational and jurisdictional boundaries. Can you put any of that on a balance sheet – or confine it to a national identity? Hell no!
The networked information society creates social value through connections between people. Social value is created through shared creativity, expression and reputation. In The Internet and the Project of Communications Law, Susan Crawford described it this way. “…the greatest possible diversity of new ideas that will support our country in the future will come from the online world, because of its special affordances of interactivity, interconnectivity, and unpredictable evolution” (page 6). Written in 2007, don’t those words seem that much more important in the global economic meltdown. Oh, and while referencing Susan Crawford, another take-away from her piece is: don’t treat the internet like a content-delivery supply chain. It’s greatest value is in human connections and relationships online.
Implications for the firm and other institutions: it’s about relationships, not things
Get networked! Participate and engage with your customers, stakeholders, citizens, people everywhere. Get to know them better. Anticipate their needs. If you have something of value to them, go directly to them. Avoid intermediaries. Invite them to know you better. Collaborate with them. People are influenced by those they know about and trust. Share to grow. Use others data and platforms where you can.
Reach out and use the scale of the internet to go beyond your town, your region, your country.
Use mulitmedia. People are more passionate, more emotional with video interaction. There is far richer connectivity. Tell stories about you, your service or product.
