Social Media & CPAs NYSSCPA
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The document discusses the impact of social media and digital transformation on the accounting profession, emphasizing the need for CPAs to adapt to the rapid pace of change in technology and learning. It highlights the importance of informal and social learning as essential tools for success and outlines key norms and skills of the 'Net Generation.' The presentation encourages professionals to embrace digital tools to enhance relationships, share insights, and create meaningful connections within their networks.
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Social Media & CPAs NYSSCPA
- 1. CPAs & Social Media – Passing Fad or Valuable Tool 2011 NYSSCPA Higher Ed Conference New York, NY March 25, 2011 Tom Hood, CPA.CITP CEO Business Learning Institute Maryland Association of CPAs
- 2. Will the pace of change increase or decrease? Will complexity increase or decrease? Welcome to the New Normal
- 3. “As it relates to science and technology, the rate of change in the next decade, is likely to be 4 to7 times faster than in the last decade. If it is 4x faster it would be like planning for 2010 in 1890, if it is 7x faster it would be like planning for 2010 in 1670.” -Expert on Education Panel, The Aspen Institute
- 4. We feel overwhelmed by a big wave of changes The 5 C’s • Competition • Compliance • Convergence • Change • Complexity
- 5. Three Drivers of Change WEB 2.0 THE NET GENERATI ON Wikinomics - The New Economic Order Inspired by Don Tapscott
- 6. Turbulent times require new skills and new ways of thinking “You can’t stop the waves, but you can learn to surf” - Jon Kabat-Zinn Photo: Pratt’s surfing page
- 7. Meet your future employees? “over 64% of students in grades K-12 play online and/or electronics based games regularly” “Downloading music is #1 activity by middle and high school students” “40% of middle school students and 67% of high school students have a personal website (Facebook, MySpace, Xanga)” Source: Project Tomorrow – Speak Up 2007 report
- 8. Generation Gap? Or Generation Lap? One third (35%) of American adult internet users have a Generations profile on an online social network site, four times as many as three years ago, but still much lower than the 65% of online American teens who use social networks “In 1997, young people for the first time were recognized by adults as being authorities on something truly revolutionary – digital technology, interactive media, and collaboration.” – Don Tapscott “Growing Up Digital”
- 9. Eight Net Gen Norms 1. Freedom – The freedom to work when and where you want 2. Customization – My job my life 3. Scrutiny – I know what you did last night 4. Integrity – Be a good company to work for 5. Collaboration – Teamwork 6. Entertainment – Work should be fun 7. Speed – Let’s make things happen now! 8. Innovation – Let me invent
- 10. To be a guild master in a game like World of Warcraft, you need to be able to create a vision, find recruits and give them a platform on which to learn, and orchestrate the group's strategy. To me, it sounds a lot like the skills a corporate executive
- 11. Why we are here...
- 12. Fear? What if informal & social learning could be the key to success in this new normal?
- 13. The challenge is how to position our organizations for L > C “To keep pace in your industry, let alone as a leader, requires your rate L>C of LEARNING to be greater than, or equal to, the rate of CHANGE.”
- 16. The New Math Social Networking (Old) + Social Media (New) = A change in the way we build relationships Source: Matt Goddard, CEO R2integrated
- 17. Social Media supplements & extends the Social Network
- 18. Old School vs. New School Chamber of Commerce Class Reunions Friends and Family E-mail Industry Meetings Newsletters
- 19. It’s about the Network Effect Metcalf’s Law "states that the economic value of a network increases like the square of the number of its nodes, or the law of increasing returns. Usually, when people share a piece of equipment, the return diminishes. When more people are engaged in the network, more value is returned to the user."
- 20. Get found – Digital Footprints
- 21. Marketing Strategy 2.0 Website e-mail Twitter newsletters Social Blog Networks Source: MACPA & Business Learning Institute
- 22. James Carroll, CPA Website Facebook Twitter
- 24. How one small firm got on the WSJ? “I think today demonstrated the value of the social networks (Facebook, Twitter, etc.) and their ability to spread the word. Encouraging others to read our materials and help us with our mission to Bury the Billable Hour” - Dan Morris, CPA from Verasage Blog Website Blog Twitter
- 25. Time to pay attention?
- 26. Bill Tom MACPA’s Journey
- 27. MACPA’s Social Media Map 45,000 views 900+ connections 450 connections 43,000 views 2,943 followers 450 members Top Accounting Blogs Top 75 Business Blogs - 2010 34
- 28. Our journey started with blogging
- 29. Social Media connects us to thought leaders
- 30. Learning 2.0 The connected learner
- 31. AICPA Leadership Academy
- 32. Social Media Engages & Shares Insights 35
- 33. Social Media can take notes! 36
- 34. The learning continues by using social media tools to connect the learners
- 35. Using a blog to support continuous informal learning - AICPA EDMAX www.bizlearningblog.com
- 36. Comments on BizLearningBlog include a participant and author of book Jane Bozarth - author
- 37. Twitter during the event, slideshare & blog post-event
- 39. Blogs supporting training www.cpaisland.com www.slacpa.org
- 40. Communication
- 43. 2009 AICPA Tech-Plus Conference Video: “CPAs in Second Life at the AICPA Tech + Conference,” from the Maryland Association of CPAs: bit.ly/AICPATechPlus
- 44. We learned that social media can be a valuable leadership tool Web 2.0 Association 2.0 Leadership 2.0
- 45. The world is changing From: To: • Hierarchy • Network • Command & Control • Connect & Collaborate • Experience Curve • Collaboration Curve • Lecturer • Facilitator • Push • Pull
- 46. Next Steps - It’s all about you! 1. Create a digital footprint 2. Start listening 3. Make friends 4. Create & Share 5. Recognize & Reciprocate
- 47. CPA Learning 2.0 – The first self-directed learning tool for CPAs • Got Permission from http://www.cpalearning2.com Helen Blowers at Library Association to borrow with attribution - Bill Sheridan & Tom Hood worked on exercises and used blog to support self- directed learning - Oct, 2007 Staff volunteered to “do it” - Feb, 2008 Staff completed (95% participation) - Opened up to the world
- 48. Top Ten Learning Technologies 1. Twitter – micro-updating tool 2. YouTube – video hosting and sharing tool 3. GoogleDocs – online collaboration tool 4. Delicious – social bookmarking tool 5. Slideshare – presentation hosting and sharing tool 6. Skype – instant messaging and VoIP call tool 7. Google Reader – RSS feed reader 8. Wordpress – blogging tool 9. Facebook – social networking site 10. Moodle – course management system Source: www.C4LPT.co.uk
- 49. It is really about people Learning + Leadership x New Tools > C
- 50. The Leader’s job is... To provide hope & inspiration and to make your follower’s feel stronger and more capable
- 51. Tom Hood, CPA.CITP CEO Business Learning Institute Maryland Association of CPAs http://www.bizlearning,net (800) 888-481-3500 [email protected] Follow me on: Twitter: http://www.Twitter.com/tomhood LinkedIn: http://www.linkedin.com/in/tomhood Facebook: http://www.facebook.com/thoodcpa Plaxo: http://tomhood.myplaxo.com Slideshare: http://www.slideshare.net/thoodcpa Youtube: http://www.youtube.com/thoodcpa Second Life avatar name: Rocky Maddaloni
Editor's Notes
- #42: Let’s start with CPAs.The Maryland Association of CPAs started building CPA Island in late 2007. My boss, Tom Hood, had started hearing a lot of buzz about virtual worlds and Second Life in particular, and one of our members had built a virtual presence for his firm in Second Life – and had found some real-world business as a result. That, to us, was like the holy grail.So we decided we wanted to build the first virtual space dedicated to the profession. We wanted to have a virtual home where all CPAs could go to explore virtual worlds and find out what they had to offer.We built two islands in Second Life, and we focused quite heavily on networking. We wanted these spaces to be places where CPAs could come and interact with one another without having to travel long distances to do so.These are just a few of the structures we built on the islands.
- #44: Maybe one of the most concrete examples of the power of virtual education came during the 2009 AICPA Tech-Plus Conference.So let me set the stage for you. We had a live group of attendees in Las Vegas. We had a group of presenters in Baltimore. And we had presenters from all over the country, all joining us virtually on CPA Island in Second Life. And anyone who joined us in this virtual space had the opportunity to hear from the likes of Phillip Rosedale, founder of Linden Labs and Second Life, and these folks as well. Let’s take a listen. Here’s actual video footage of the virtual event.
- #45: Association 2.0 is an operating model that allows associations to respond rapidly to market and member needs. This does not mean that we abandon our current members or our mission. It is a philosophy of rapid change, flexible organization structures, new Web 2.0 tools, and member participation that will put our associations in a much stronger position, ready to efficiently and effectively meet the needs of a larger population.”Adapted from Michael Casey, LibraryCrunch.com blogGwinnett County PL