Corporate "social networks" for innovation and idea management

Millions of people participate in online social networking communities. Businesses have only recently started to realize the potential that social software technologies present to corporations. Elguji was the first company to introduce a corporate social networking application designed specifically for collecting and managing ideas for enterprises running IBM's Lotus Notes/Domino and Lotus Connections, and Websphere Portal software.

Incorporating social networking in a business environment has many benefits:

• Increases participation by orders of magnitude over traditional methods such as suggestion boxes
• Drastically shortens time frames of idea collection and evaluation
• Promotes collaboration on the creation and refinement of ideas
• Fosters a sense of shared involvement with customers and employees
• No end-user training is required

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