The big brains at McKinsey Global Institute recently released a report on the latent value inherent in the social enterprise. In other words, the value sitting there waiting to be captured by implementing the tools and techniques of social technology throughout business.
The price tag they put on the opportunity? One TRILLION dollars. Actually they had a range of $900B to $1.3T on it, but what's a few hundred billion amongst friends. But you know what the really good news is, this value is understated, massively so. Here's why.
A Trillion Is A Million, Million
Their analysis looked at only four industries that represented about 20% of global industry sales. So the real value creation opportunity is much larger across the entire market.
Who will get to keep this value? For starters, the early corporate adopters who use social technology to become social enterprises have enormous advantages over their socially challenged competitors.
And ultimately…You! You'll win because this is a phenomenon that you've created with your obsessive adoption and use of these technologies. Some of this value will eventually be competed away, but ultimately the experiences that it enables and delivers to you will be much better than what you are currently getting.
You Are The Ultimate Social Trump Card
Your new ability to collectively organize and act efficiently and effectively, is the ultimate social trump card. You gain more relative power than anyone else across an industry structure because of this technology, although social technology disrupts every part of the competitive environment in unique ways. Not all of you have realized it yet, but you are at the center of the biggest business management disruption you'll experience in your lifetime, the social enterprise.
Several trillion bucks -- that's a lot -- have any other business opportunities of this scale? I didn't think so. The social enterprise is the #1 business opportunity of the next decade. Here's a link to the MGI report so you can get started on your social enterprise future.