ASEAN Social Business Summit announced

KUALA LUMPUR To advance into a high-income society by 2020, Malaysia seeks to move away from dependence on natural resources to the value-added services required in the emerging Social Economy, which is powered by the growing business role of social technologies worldwide.

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One key driver of that shift will be the adoption of Social Business, which involves social-powered collaboration, process innovation and empowerment within enterprises and with customers to improve employee productivity, lower costs and increase profitability. Social Business especially benefits HR, R&D, strategic planning, customer service and other mission-critical operations, and includes social media for marketing.

Malaysian and other ASEAN companies can learn about the strategic necessity and benefits of Social Business at the first annual ASEAN Social Business Summit in Kuala Lumpur in May 2013.

McKinseys 5th annual survey of Social Business involving 4,000+ companies worldwide found that more than half the firms said they we're benefiting from faster information access, lower communication costs and better internal collaboration. In another study, McKinsey found that Social Business raises the productivity of interaction workers by 20-25%. No wonder major industry leaders such as include IBM, Oracle, Microsoft, and many more are offering Social Business solutions.

Worldwide enterprises that have adopted Social Business as a strategic initiative include CIMB, Ford, Toshiba, Yum! Brands (KFC and Pizza Hut), the popular Indonesian restaurant chain Bumbu Desa, Nokia, Swiss Re: and many more.

Social Business (once known as Enterprise 2.0) also represents a substantial opportunity for innovative Malaysian technology firms. According to market research firm IDC, the social business software market is growing 42 percent annually, and is expect to total $4.5 billion by 2016.

The one-day ASEAN Social Business Summit, scheduled for May 22, 2013, will examine the role and importance of Social Business as well as factors required for success in the Social Economy. Special attention will also be paid to collaboration, innovation and taking corporate advantage of disruption. Additional information can be found at the Summits web site,

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Posted in Business Other Post Date 12/26/2014






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