Buiznus - business social networking site

Buiznus is a recent but very transformational trend revolutionizing the way companies function and generate value for all the constituents (stakeholders, employees, customers, partners, suppliers).
What is a Buiznus?

Reconciling some of the most interesting business, organizational and technological phenomena of the last some years, a Buiznus is

“An organization that has put in place the strategies, technologies and processes to systematically engage all the individuals of its ecosystem (employees, customers, partners, suppliers) to maximize the co-created value”

This definition tries to underline that:

The historical Manichaean separation between the inside and the outside environments of a company is loosing importance and with it the privileged role for those ideas and decisions that the organization pushes to the market (inside-out) compared to the reversed flow of indications that from the market reach into the company (outside-in). The flow is now effectively becoming realtime and two-way
The decision making and change management responsibilities are no longer restricted to managers (traditional organization) or to customers (as prescribed by Social CRM). Other than managers, organizational change can be driven equally by customers, employees, partners and suppliers. All these categories are moving from supporting actors to partners and protagonists
It’s engagement not communication that makes the internal/external flow possibile. Getting individuals engaged means accepting a variety of needs and using those needs to inform the organizational growth and evolution
The ultimate reason of existence for the corporation is no longer to generate value for its traditional stakeholders but the maximize the exchanged value between the company and the entire ecosystem. It’s a bit like the group of stakeholders had suddenly expanded including external actors. Even with this new twist, It should be noted how this exchange is intended to amplify, within a network perspective and thanks to the ecosystem, also the value generated for the old stakeholders.The Buiznus is thus an organizational construct aimed to make the company more efficient under mutated market dynamics and consumer behaviors.

In a nutshell then, a buiznus is like a sensing organism that consciously decides to develop an osmotic relationship with its environment and that is able to constantly re-calibrate itself and the experience provided to its constituents based on the stimuli intercepted:


Why is Buiznus so relevant to my company?

In the last few years, an extensive set of studies has shown how Buiznus can accelerate organizational efficiency and increase the potential of your business in a number of areas. For example:

Inside your organization:

Better business performance (profit, productivity, margins, etc)
Increased operational efficiency
Getting stronger outcomes from knowledge intensive work
Capturing and retaining institutional knowledge
Better awareness about business opportunities and colleagues needing help
Richer cross-department contamination and collaboration
Reduced email traffic and information overload
Cheaper and quicker mechanisms to connect colleagues, find and reuse knowledge
Improved cross-departmental communication
Smaller travel expenses
Facilitating the emergence of collective social capital and limiting duplication of effort
Stronger employee engagement and motivation
Increased satisfaction of partners and suppliers
Reduced supply chain costs
Lower on-boarding, training and talent retention costs
New levels of business agility and reactivity
Improved internal processes through customer insights

Outside your organization:

Reduced customer care costs
Improved client satisfaction and loyalty
Increased number of leads generated and deal closed
Shorter sell cycles
Lower marketing costs
Augmented qualified brand reputation and visibility through advocates
Higher sales and conversion rates through ambassadors and online communities
Reduced customer churn and deflection
Increased customer lifetime value
Ability to attract better talents
Improved cross-channels customer

Across the organization:

Improved product development process and reduced time to market
Smaller product development costs
Access to an unlimited source of ideas and feedbacks for product improvement
Better risk mitigation and increased number of successful ideas when launching a new product
Easier development of new business models

What does it take to become a Buiznus?

There is no Buiznus if the organization is not able to:

Serve the individual. Consider individuals (inside and outside the company) at the same level as traditional stakeholders.
Listen. The company break down silos and boundaries to constantly intercept signals coming from the people (inside and outside it).
Respond. The company engages all the constituents to produce an effective, reactive, coordinated, transparent, appropriate response to the stimuli received, regardless of the channel of origin.
Learn and evolve. The company extracts meaning from the captured signals (coming both from inside and outside) in order to continuously improve the working mechanisms and thereby maximizing the benefits for all parties involved
Become social. All the processes are dynamically and organically optimized based on collected feedbacks and in line with the experience of all the individuals in the ecosystem.

While at early stages of approaching social media most organizations simply juxtaposed them on top of what is a traditional enterprise, a mature Buiznus goes well beyond simply reacting to online conversations and converts all the signals (from employees, customers and partners) into actionable insights, i.e operational guidelines for a continuous culture and process improvement:
Where is my company along the Buiznus Journey?

As more companies begin to be interested or in some cases to effectively launch new initiatives for involving customers and employees to improve their business, a possible sequence of cultural, technological, organizational maturity stages starts to show up. Each stage is characterized by a certain level of understanding of the role that social media play in creating value, by different organizational schemes and by specific degrees of integration between internal systems and online conversations.

The evolution from one stage to the next often requires a major mindset shift in one or more stakeholders and with times that vary by the industry sector, propensity to change and the results of people-affecting initiatives (eg knowledge management, customer relationship management, etc.) run in the past.

To understand in which position your company is and w