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Two thirds of firms benefit from social business initiatives

Survey shows companies growing in social maturity, adopting more social business tools

Two thirds of firms benefit from social business initiatives
Two thirds of businesses reported gaining value from social business initiatives.

Social business initiatives are having a positive impact on two thirds of businesses interviewed for a global survey.

According to the study, conducted by Deloitte and MIT Sloan Management Review, social business initiatives including use of social media, social software and social networks are bringing benefits to businesses today.

The study, "Moving Beyond Marketing: Generating Social Business Value Across the Enterprise", sampled more than 4,800 business executives across 109 countries and 26 industries.

Nearly 80% of the surveyed companies analyse social data, and 67% integrate it into systems and processes to improve business decisions.

The study identified that the greater the level of social business ‘maturity' of an organisation, the greater the value it will realise from social initiatives.

The organisations identified as more mature typically had leadership belief in social, and integrated social across the enterprise to encourage innovation. More than 90% of respondents say their leaders believe social can create powerful and positive change, while 87% percent use social business to spur innovation.

"Maturing organisations in the Middle East are led by executives who believe in the potential of social business, agreeing that social business represents an opportunity to fundamentally change the way their organisation works, and leave a positive impact on business outcomes," said Rana Ghandour Salhab, Talent and Communication Partner at Deloitte Middle East.

"It is important to note that employees want to work for companies that excel at social business," added Salhab. "This is evidenced by the fact that more than half of the respondents answered that social business sophistication is at least somewhat important in their choice of employer."

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