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My presentation at Internationalization Lab in the masters program at the University of Agder in Krisitansand, Norway, Oct 2012
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Social Media as a Tool forInternationalizing Value
Creation October 2012
Dr. Robin Teigland Karinda Rhode in SL
Stockholm School of Economicswww.knowledgenetworking.orgwww.slideshare.net/eteigland
RobinTeigland
Today’s discussion
Background
Using social media for internationalization
Into the future
What is globalization?
The extent to which networks of individuals and organizations, markets, and technologies are
interconnected across geographic and cultural boundaries.
−Beech and Chadwick 2004, −Friedman 2002
Why globalization?
The information age in which we live allows both large and small
businesses to thrive on a global scale. Technologies like the internet, mobile phones, etc. have made our
shrinking world even smaller.
Kingsley 2005
Did You Know: Shift Happenshttp://www.youtube.com/watch?v=cL9Wu2kWwSY&feature=search
Which forces for internationalization are presented?
Forces for worldwide innovation and learning
Increasing pace of technology developmentShortening product life-cyclesRising R&D costs Increasing number of multinationals with
capability to develop and diffuse innovation globally
Increasing need to develop worldwide organization as a learning system.
Innovative capability as emerging source of competitive advantage.
”No one knows everything, everyone knows something,
all knowledge resides in humanity.”
networks
Adapted from Lévy 1997
Six degrees of separation
- Milgram, 1967
3.74 degrees of separation!
Source: Facebook
Aug 20125 mln active
monthly users in Sweden
Growing social media landscapes
http://www.resonancechina.com/2012/03/13/updated-2012-china-social-media-landscape/
What are social media?
Media that..- enable communication &
collaboration… - through user-generated
content….- from one-to-one to
many-to-many people…- across all boundaries
People > 45 years becoming more active
Edison Research, 2012 - US-based study
% age group with personal profile on any social networking website
Driver of change: Creation > curation
46% Creators: Create and post photos, videos, etc.
41% Curators: Find and post photos, videos, etc.
http://pewinternet.org/Reports/2012/Online-Pictures.aspx
US Inc 500* shift from blogs to Fb and Twitter
Twitter Facebook Public blogs YouTube0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
52%
61%
45%
0%
59%
71%
50%
0%
64%
74%
37%
45%
200920102011
http://www.umassd.edu/cmr/socialmedia/2012inc500socialmediaupdate/
*Fastest-growing private companies
Today’s discussion
Background
Using social media for internationalization
Into the future
Social media help overcome internationalization challenges
Challenges How overcome
Psychological, e.g., local mindset, risk, fear
Use networking sites and forums to build global mindset and confidence
Organizational, e.g., limited resources, lack of foreign knowledge and experience, problems in finding right agents/distributors
Use SM for marketing and communications, e-learning, networking
Operational, e.g., export documentation; management of export operations; language problems; payment delays/risk
Use open source software and hosted applications to improve operational efficiency and reduce costs. ‘Crowdsource’ help through networking sites and online virtual communities
Product/market, e.g., identification of most attractive markets, tailoring of product/service to local market
Use networking sites to create understanding/awareness of trade barriers Use SM for export market research; direct to customer relationships
www.energise2-0.com
Get active and create awareness!
21
Access to 24x7 global workforce
Matchmakers: USD 1bln industry
Increasing supply of freelance talent globally
https://www.elance.com/trends/talent-available
Global Online Employment ReportQ2 2012 at Elance
Where are the sources of sustainable competitive advantage?
#1
InnovationNetworks of relationships
Brand & Reputation
FIRM
Kaye 1993
#1
InnovationNetworks of relationships
Brand & Reputation
FIRM
Where are the sources of sustainable competitive advantage?
Teigland 2010
Building community though relationships
http://twitter.com/#!/zappos
Core Value #6: "Build Open and Honest
Relationships with Communication
30% profit margin in
commodity business
From clothing to home products….
OpenSimulator: A value-creation ecosystem
AcademicEntrepreneurHobbyistLarge FirmNon-profitLocal PublicFederal PublicResearch InstSME EmployeePeriphery
Teigland, Di Gangi, & Yetis 2012
“Open source” …not just about software anymore
New forms of financing
http://blog.intuit.com/trends/crowd-power-what-is-crowdfunding-infographic/
But….
Not every firm is ready to internationalize−Prematurely venturing outside borders may
harm overall firm performance, especially for smaller firms with small margin for error
• Long-term investment
• High ambitions - risk
• Commitment - exit barriers
Adapted from Sölvell
Today’s discussion
Background
Using social media for internationalization
Into the future
The new market place
A shift by companies from being “problem solvers” to “solution finders”
Ericsson & Augur 2011
Shifting market logic
Ericsson & Augur 2011
Only a matter of time?
O’Driscoll 2009
From the mobility of goods to the mobility of financial capital to …
Teigland, JVWR, 2010
...the “mobility” of labor?
Some things do not change
Innovation Exchange
Exchange Trust
Trust RelationshipsRelationships Interaction
Karinda Rhode
aka Robin [email protected]
www.knowledgenetworking.org
www.slideshare.net/eteigland
www.nordicworlds.net RobinTeigland
Photo: Lindholm, Metro
Photo: Nordenskiöld
Photo: Lindqvist
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