Chinese companies confident in social business

Social media is part of many Chinese consumers' lives these days, and companies are becoming confident in social business practices, a recent survey has shown.
Nearly 70 percent of managers surveyed were confident in the future of social business, according to research consultancy CIC. Confidence was strong among 30 percent of respondents, and high among another 39 percent, while the remaining 31 percent were somewhat less optimistic.
The overall confidence index reached 7.3, which could be viewed as a very optimistic signal, CIC said in a statement.
CIC defines a "social business" as an organization designed consciously around social tools, media, and networks, to reshape consumer relations and business models.
The survey is part of CIC's 2014 Social Business to Big Data White Paper and involved 249 respondents from over 30 industries. Companies ranged from 50 to 10,000 employees, and about 78 percent of the respondents were team leaders/managers or above. Over 60 percent were directors or occupied more senior positions.
Annual CIC white papers have tracked social business practices since 2010. CIC's Social Business Development Index increased to 5.4 in 2013 from 4.5 in 2012.
The research suggests that current social businesses share features like a dedicated teams working on social tools and technology, applying social technology to consumer behavior, centralized social business management, and strong staff interest in social media.