Many companies have benefited hugely from harnessing collective power. But not all have succeeded. There are many pitfalls to be avoided and obstacles to be overcome in tapping the wisdom of communities. Communities can make your company more productive, more profitable, and a better place for the people who work and live there. Industry expert Barry Libert discusses how business communities and social networking can drive innovation, reach new markets, resurrect customer loyalty, and improve profitability.

During this session, Libert outlines the critical steps to gaining management buy in for your community initiatives. He also discusses the ways to correctly assess your “community readiness” in preparation for this journey. As a wrap up, Libert highlights real-world case studies of companies like Starbucks, Fox Television and InnoCentive that have successfully partnered with their customers using community to create real value for their business.