{"id":30131,"date":"2012-06-08T12:43:04","date_gmt":"2012-06-08T16:43:04","guid":{"rendered":"http:\/\/countingpips.com\/forex-news\/2012\/06\/how-siemens-nyse-si-is-monetizing-its-own-social-network\/"},"modified":"2012-06-08T12:43:04","modified_gmt":"2012-06-08T16:43:04","slug":"how-siemens-nyse-si-is-monetizing-its-own-social-network","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex-news\/2012\/06\/08\/how-siemens-nyse-si-is-monetizing-its-own-social-network\/","title":{"rendered":"How Siemens (NYSE: SI) is Monetizing Its Own Social Network"},"content":{"rendered":"

Article by Investment U<\/a> <\/p>\n

\"How<\/p>\n

Discover how Siemens' expert networking system, TechnoWeb, is creating value while Facebook (NYSE: FB) scrambles to make money.<\/p>\n<\/div>\n

I must confess, I feel like I\u2019m personally responsible for Facebook (Nasdaq: FB) not being worth more. I\u2019m about to mark the eighth year when people will wish me a happy birthday on Mark Zuckerberg\u2019s social network, but I\u2019ve never clicked an ad (in fact, I rarely notice them) and I think the iPhone app is unreliable.<\/p>\n

Don\u2019t get me wrong, social networking sites are a part of my life. But they\u2019re not something I\u2019d invest in \u2013 at least not yet.<\/p>\n

I\u2019m much more excited about a trend I discovered in my MBA coursework this past year. It\u2019s called expert networking<\/em>, and it\u2019s creating value at the roots of some of the world\u2019s biggest firms.<\/p>\n

For instance, let\u2019s take a look at German conglomerate <\/strong>Siemens<\/strong> (NYSE: SI). The company is an innovation hotbed. It has around 30,000 R&D workers and holds around 60,000 patents. And that base is only getting bigger and stronger with a network they recently implemented.<\/p>\n

Keeping Knowledge In-House<\/strong><\/h2>\n

TechnoWeb is a network platform that lets Siemens workers share questions and answers.<\/p>\n

Imagine you\u2019re an engineer in the U.S. working for Siemens. You hear from a salesperson that a potential customer needs a device that could win a multi-million dollar contract. If you can come up with a solution, you\u2019ll land a big fish for your division and maybe get a promotion.<\/p>\n

But unfortunately you\u2019ve got a hole in your research that no one near you can fill.<\/p>\n

Now you, an American engineer, can run your questions by hundreds of thousands of Siemen\u2019s employees worldwide using the TechnoWeb.<\/p>\n

After a multi-billion dollar bribery scandal broke in 2006, Siemens steered its pool of global talent away from networking based on corruption. It was time to harness the innovative power of Siemens employees.<\/p>\n

It turns out that around 20,000 employees had been chatting about Siemens work topics on other social networks (such as Facebook). Not only is that not secure, it also doesn\u2019t let Siemens get a bird\u2019s eye view of what\u2019s going on in-house.<\/p>\n

The motto for this new internet-based knowledge networking was, \u201cIf only Siemens knew what Siemens knows\u2026\u201d The idea being that the most valuable knowledge is within the vast global network of Siemens employees \u2013 totaling more than 400,000.<\/p>\n

Knowledge-Based Networking<\/strong><\/h2>\n

Unlike Facebook, which puts individuals and their info at the center, and Wikipedia, which revolves around research topics, TechnoWeb links knowledge to people. That means that with each answered question, a new expert is acknowledged or reinforced, and great ideas are rising to the top.<\/p>\n

In its first year 10,515 people used TechnoWeb, beating a target of 8,000. Not many people attended \u201chow-to\u201d webinars, which was actually a good sign\u2026 they knew how to use it right off the bat.<\/p>\n

The nice thing is that TechnoWeb is a hybrid \u2013 open innovation and knowledge-sharing give way to executive command and control when implementation and strategy are needed. This encourages everyone in the organization to get involved in innovation, and solutions come from the people with the best knowledge.<\/p>\n

Through this expert networking, people are working efficiently by working together.<\/p>\n

As few as 3 in 10 TechnoWeb users have to be active for the model to work. The other 7 still reap the benefits, just as investors do when new products come to life. You don\u2019t even have to be logged in. It\u2019s a sort of dynamic yellow pages that gets big problems solved, quickly.<\/p>\n

This \u201cSocial Network\u201d is Already Being Monetized<\/strong><\/h2>\n

Here\u2019s just one story that points to TechnoWeb\u2019s success\u2026<\/p>\n

A Siemens information technology worker in Munich posted an urgent request in TechnoWeb for info that would help a customer\u2026 Within five days, he received 15 responses from eight different business units in eight countries.<\/p>\n

One response hit it right on the nose. The employee said he saved multiple working days and improved quality \u2013 all because of Siemen\u2019s TechnoWeb.<\/p>\n

So while Facebook struggles to find the value in its vast network and information database, Siemens is already monetizing on its own version of a social network. Investors should keep their eyes not only on Siemens but on other companies that look to take advantage of this new revelation.<\/p>\n

Good Investing,<\/p>\n

Sam Hopkins<\/p>\n

\n<\/a> <\/a> <\/a> <\/a> <\/a>\n<\/div>\n

<\/p>\n

Article by Investment U<\/a> <\/p>\n","protected":false},"excerpt":{"rendered":"

Article by Investment U Discover how Siemens' expert networking system, TechnoWeb, is creating value while Facebook (NYSE: FB) scrambles to make money. I must confess, I feel like I\u2019m personally responsible for Facebook (Nasdaq: FB) not being worth more. I\u2019m about to mark the eighth year when people will wish me a happy birthday on … <\/p>\n

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