Hack:
Usability and management approach of web2.0 technology to leverage the business outcome.

The area of business activities that can be leveraged using concept of social media and the technology web2.0:

1. Branding of the products and the businesses: According to the internetworldstats, more than 30% of the world population use internet and its growth from 2000-2011 is 480%. The expected growth within next five years is more than 100%. Demographically 78% of North American, 60% of European, and 24% of Asian people use internet. 44% of total internet users are Asian and is expected to increase more than 100% within next 5 years. Currently total visitors of Wikipedia are 684 Millions and total facebook users are more than 300 Millions. On average in Europe, Asia and North America internet users spent more than 50% of their internet time in social networking. These statistics easily indicates the importance of social media for branding of products and businesses in current world.
2. Corporate Social Responsibility: In the last decade, cost of CSR was considered as non profitable part of the organization. One of the main reasons was that the information about contribution of the businesses on social issues was not reached among mess people. Companies were reluctant to do such cost. But the availability of the social media and cost efficient mess communication process forces managers to rethink about CSR. Today managers can consider CSR cost as marketing investment. For example, Google awards $2 Million prize to Khan Academy, a non-profit educational organization and others, not only increase their popularity and trust among people but also it used as a massive marketing strategy among Asian and non developing countries. Also Google found a new business model on online educational section.
3. Reduction of Hierarchy: Just imagine, GE CEO Jeff Immelt send a birthday wish to a day labor of one of GE manufacturing plant in Vietnam. This will be the best gift to the employee that he/she ever would get. Also it will act among the employees as a chain reaction about their greatness of their super boss. Such a way, company management can think about the virtual reduction of organization hierarchy and build suitable fabricated Web 2.0 platform to cultivate the motivation of the employees. Top management can use this concept to reach to the bottom end employees and increase the loyalty, and the trustiness of the employees about their unreachable bosses.
   
4. Employee Relationship: In last decade, the internationalization of the companies is significant. Companies are involving more and more projects that are involved internationally. One of the key challenges of these internationalized projects is the inter-culture deference which is not only because of the lack of cultural aspects but also luck of chance to make relation among the inter-cultural partners. That can be dramatically improved using the social networks and use of technology Web2.0. Company like Siemens has more than 400 thousand employees. They can fabricate the social networks platform only for their employee and the identified stakeholders. One strategy can be that each Siemens employee must have an account on the fabricated social networking platform. This strategy can imaginably improve the relation among the employees, improve inter-cultural know-how, use as effective and fast communication media.
   
5. Easy flow of know-how: The proposed fabricated social networking platform can be efficiently used for distribution of know-how among the employees and can be used as a platform for the source of finding fast solution for any know-how challenge. One employee of Siemens Bangladesh can raise a technological problem that he/she is facing. Within few minutes he may get the advice for the solution of the problem from other locations. This will not only improve the performance of a particular employee but also significantly reduce the development period and off course the cost.
6. Employee Engagement: One customer of Mumbai sent an emergency mail on June 11, 12.00 PM to a service provider which is located in California where the local time was June11, 11.30 AM. The customer expected the answer for his enquiry next day morning July 12, 12.00 from California, USA (when the local time of Mumbai was July 12, 11, 00 AM). The customer of Mumbai would realistically get the answer from California on July 13, Morning. There would be 2 day delay of the response. But if Mumbai customer got the answer within 20 min, just imagine how much satisfy he/she will be. This can be possible by using a company wise fabricated social networking site and make a culture to use it using proper strategy for it. This technology can be used improve the employee engagement and so customer satisfaction.
   
7. Customer Relationship: Use of public social networks and also company wise fabricated stakeholder networking site can significant improve customer satisfaction, and also can be used effectively and efficiently as CRM (Customer Relationship Management) tool.
   

These are not the end of activities list that can be leveraged by social media but a lot many more are possible. This article is written from the findings of a small survey on social network friends. So easily we can understand this media can be used for generating marketing report about the feedback on the products and services from the stakeholders and the end users which will be much cost efficient.