Competition is good for business, right? It helps to keep us honest, and keeps us from being lazy. In the world of social media, this is especially true, as things change and grow with breakneck speed.

Facebook, especially, because it’s the biggest, and we live in a world of “might makes right” could really be guilty of resting on its laurels. And has been, I think, in the past. But with younger social networks like Twitter, Pinterest and G+ nipping at its heels, Facebook has been consciously making continuous improvements to its U.I. over the last few months.

The latest is something called Interest Lists. Similar to Twitter Lists, or Circles in G+, you can now group pages you follow and your friends into lists that are thematically linked under a subject.

In order to browse lists and create one for yourself, point your browser to https://www.facebook.com/addlist.

I created a list called “Cooking By Laptop” where I included some of my favorite recipe/food pages on Facebook. It creates a kind of newsfeed of just those pages’ updates. You can also include friends on your list, but it’s a bit strange to do so, because they are likely not posting about food all the time, so you’ll get some mixed messages from their feed. You could, however, create a separate list of your friends, grouped by interest. Facebook users can subscribe to your list, and they will get the same newsfeed as you do.

Can you see how this might be useful to your business?