Risks and Rewards of Social Media and Networks

Social networks of digitally-connected customers and employees are growing in power and influence each day, but companies are often still blindsided by this phenomenon. Barry Libert, CEO of Open Matters and author of Social Nation, says the reason is that corporate leaders tend to focus on internal issues like operational excellence, but are confounded by external forces such as social networks that they cannot control. In this interview with Knowledge@Wharton, Libert shares a four-step process that companies can use to harness the power of social media and networks.