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As for my $.02, I suspect that right now somebody is writing that article for HBR, emphasizing the strategic role of corporate weblogs...
...perhaps even framing a continuum that stretches from one extreme, with those who use blogs to increase transparency and accountability with corporate stakeholders, to the other extreme, with those who use blogs for more opaque and deceptive ends.
Serious corporate marketing blogs that give away valuable content and/or provide a window into the operations of the company, along the lines of what LexBlog is already doing for law firms, seem to be approaching the tipping point beyond which growth will be parabolic.
The HBR article will be that tipping point for the corporate world, imho.
Now, believe it or not, as I clicked over to LexBlog to make sure I got Kevin O'Keefe's url right, what do you suppose I found as his most recent post?
I'm not of the "blogs are going to take over the world" mindset. To my mind, blogs are merely another way of getting info out over the internet. Having said that, they are changing the way that information is disseminated, and are mking it easier for smaller outlets to get a voice. The software available makes it easy for people to publish their information, and to link to other sources. In addition, if you're using an RSS aggregator, you can check an amazing number of sources in no time at all. For example, I use a free service called Bloglines. With it, I can monitor about 40 sites I regularly (or occasionally) check in about 5 minutes.
If you haven't already done so, check it out (and put me on your list).