What is the Future of Social Business?
I often get asked to speak and write about my PhD which is all about social business. Social business from my perspective is not about social entrepreneurship, it is much more fundamental than that….it is the next generation, stepping stones if you like to a different business model.
The social business model is one that will have to create value in a different way. Business value in the last decade/century has been about inputs and outputs…..and controlled from within the business.
My PhD is looking at how the next generative technology will affect this profit model. As the consumer gains much more control over funding, production, sales, communication – where do you create the business value?
In many ways the future often lies in the past and it may be that we move to a more cooperative model (you can here me talk more about this on Pricing Power with Steve Major). It is not that society won't need business, it is just that the business model will have to change much like the industrial age, much like the shift to service from product in the latter half of the 20th Century.
This change will also need new frameworks – such as law which is the basis for my PhD – to maintain that balance between fairness and benefit to society.
Here is my little Bob-o-graphic on The Future of Social Business