Social business software maker Jive released a report today suggesting that social enterprise is being considered a strategic priority by more and more execs. The study, called  Jive Social Business Index 1H 2011, surveyed  301 executives, 301 working millennials and 300 general knowledge workers.

“Social Business is increasingly becoming a strategic initiative for enterprises, especially among executives and millennials. Over half of the executives interviewed believe that their companies would face moderate to high risk if they failed to adopt a Social Business strategy.”

The study found that 66 percent of executives believe that social business applications represent “ fundamental shift in how work will get done and how companies will engage with customers.” Sixty-two percent of executives think social business can be turned into better customer loyalty and service, and 57 percent think it a social business strategy can be directly monetized.

The study also found that 62 percent of all respondents think businesses need to leverage social software to stay relevant the market, and 54 percent of millennials said that they are more likely to use information provided by social contacts in online communities versus 33 percent who favor information from official company sources.

It seems that enterprises are starting to recognize social business software as a means of providing better servicers and improving operations, but actual adoption is still needs to catch up with the buzz. Only 17 percent of the executives who participated in Jive’s study said their company is “ahead of the curve” from this aspect.

Indeed, the social enterprise has been gaining a great deal of attention lately. Social software maker Telligent announced the latest versions of two of its products: Telligent Enterprise 3.0 suite and Telligent Evolution 6.0 platform. Tibco also had a product launch – the introduction of Tibbr 3.0. The third version comes with HD video and desktop sharing, Oracle Expense and Microsoft Sharepoint integration as well as other features.