Harvard Business Review on Social Media

Just came across this quote about social media, published originally in the Harvard Business Review, by CK Prahalad, who is a leading expert on corporate strategy.

The quote highlights the fact that the media landscape has fundamentally changed and that corporations need to alter the way they communicate with their consumers:

‘Thanks largely to the Internet, consumers have been increasingly engaging themselves in an active and explicit dialogue with manufacturers of products and services. What’s more, that dialogue is no longer being controlled by corporations. Individual consumers can address and learn about businesses either on their own or through the collective knowledge of other customers. Consumers can now initiate the dialogue; they have moved out of the audience and onto the stage.’

CK Prahalad
Harvard Business Review

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