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"Another obstacle to the impact economy's expansion came crumbling down earlier this week when New York Governor Andrew Cuomo signed legislation creating a legal structure for social enterprises in his state.
The bill allows corporations to organize themselves as Benefit Corporations, for-profit entities that have a specific social mission. It had languished for several months on the governor’s desk until a spate of late-year legislation was completed, but passed New York’s divided legislature unanimously."
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The law mandates that company directors consider not just bottom-line profit, but also their business’ social and environmental impact, as they make governance decisions. Without the new framework, businesses seeking to combine profit-making with good works face potential legal challenges, difficulty attracting capital and thorny issues around how to sell or scale their firms.
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Now, the biggest challenge is to induce ever-larger and more varied companies to adopt the governance framework. Coen Gilbert hopes to see more startups and established companies taking advantage of the legal change, and perhaps even larger public companies.
"I am convinced that social business technology can be a major part of a company’s efforts to increase employee engagement."
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But you need a system that keeps a broad spectrum of employees informed and up-to-date about what projects are underway and what problems need solving. Giving each employee a dashboard page on a socially-enabled intranet and including on that dashboard an activity stream or micro-blogging application like Yammer or Present.ly can help. It gives people a view into what’s happening, and it also increases the likelihood that relevant information will flow to people who need it without their having to search for it.
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If our SharePoint intranet at that time had a profile system in place that allowed all employees to tag themselves according to their areas of skill, then Steven could simply have searched on “Silverlight” and found everyone in the company who was a potential resource to him.
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A study has found that revenue, gross margins and profits correlate nicely with companies that are the most engaged with social media. Should you build a portfolio around these highly engaged social media friendly brands? Probably not.
But the purpose of this network is all business, and the ambitions for it are grand. Think of it as a nervous system for the enterprise, one that gets more valuable the more it's used. Wachovia envisions a sophisticated knowledge-management platform integrated with multiple applications to let workers locate information— and the people who use it—simply and intuitively. Look up coworkers, and you can see their relationships to other employees
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