Not all networks are “social” designed to enable others to make friends. But most human networks have social elements. This distinction is at the heart of value creation in the SoPhy model.
Value creation results from the interaction of 3 variables: (1) People (2) Connection and (3) Exchange. The more people, the greater the number and strength of connections, and the more content exchanged – the better the opportunity for value creation – to achieve “Total Network Value”.
But to achieve business results, organizations can not stop there. They have to take a second step – to realize “Value Conversion”. How can organizations turn value from networks into meaningful revenue, innovation and customer service outcomes that enhance customer and stakeholder experience? The principles of SoPhy underlie both.
