Is Social Media a Fad?

This video confirmed that corporates and individuals must adjust the glasses with which they are viewing potential for coverage and exposure. Well worth watching.

Stakeholder Management

"Don't step on the toe that is connected to the leg that supports the bum that you might have to kiss tomorrow."

Let's not kid ourselves, business is about people. Fair enough, you might argue that it's about making money. But, money is spent by people and there are particular people (and companies/groups made up of people) that we need to make and keep happy in order to continue our business.

For example suppliers, employees, unions, the media and a lot of other entities are either directly influencing or influenced by your company. So why not strategically and pro-actively steer these entities into a great win-win relationship for all?!

You might think it money wasted on parties or events that could have been otherwise utilised. Yes, we have to look at our expenses, especially in these tough times. But and a very big BUT, you never know how establishing good rapport with an individual or company might work for both parties in the future.

I'm not saying you should send journos on all-expenses-paid trips to the Bahamas or accept kick-backs from suppliers, but a little good-old-fashioned-no-strings-attached looking out for each other can go a long way. And then the money "wasted", will actually turn into an investment, in turn making/saving money and keeping your business going. So therefore business does go about people after all...