CASE: BLOGS AT DrKW
* Should Rangaswami initiate internal blogs within DrKW? If so, how? How about externally facing ones? Who, if anyone, should be encouraged to set up an external blog? They are already having internal blogs at DrKW. Goal was to diffuse news, opinions, knowledge and improving collaboration within the bank. The first blogs started in 2003, first 15 months they had 30 blogs with 100 postings a month. End of 2004 they had 331 blogs with 180 postings and over 350 comments. So there was a huge increase. Not only IT driven, also business side people blogged.
Social media is very popular nowadays. Blogs are a part of this. I think with some requirements or conditions, external blogs could work. Requirements are: policy and guidelines on public blogging (like Sun), first let only experienced bloggers blog, let employees blog that have an external facing position like sales, provide trainings.
* Increases transparency
* Direct and fast communication
* Relative inexpensive way to gather information
* Improving customer relations
* Free marketing, it allows the company to more closely communicate with customers * Alternative for surveys that are perceived mostly as boring. This is a more popular way of giving your opinion. Risks/issues:
* Company secrets could be revealed
* Violated client confidentiality
* Attract unwanted attention from a regulator of enforcer * It costs time to write the blog and monitor the blogs
* The target group of investment banks are not the people who read and do blogging a lot. * No direct earnings
* In what ways is the blogosphere chaotic? In what ways, if any, is it not? Because everybody can use it and it is very open. There are posts about any topics and all different comments. But it can also be not chaotic because you can use RSS to only be updated about headlines and topics on your interest. It could also be chaotic because you have no experience...
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