Ideas Spread From The New World To The Old World Enterprise 2.0 – A Way to Innovate

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Enterprise 2.0 – A Way to Innovate

The world today is undergoing rapid changes. The traditional way of doing business no longer matters. As the Great Recession fades, a new business environment is emerging that presents new challenges for organizations. Businesses have become a matter of survival. Those who do not change with time will be driven out of this new landscape. According to this year’s Bloomberg/Business Week/Boston Consulting Group (BCG) annual survey of top executives, eighty-three percent of executives surveyed said innovation will play a big role in benefiting from the recovery. So businesses are trying to innovate more and more to stay ahead of the competition.

Previously, organizations had a default innovation team consisting of engineers, researchers, etc. But in the changed circumstances, they no longer want to have a limited team for innovation. They now have a broader view of the subject and invite ideas from every corner of the world. There are many organizations that have already adopted this philosophy, e.g. Procter & Gamble which applied the open innovation strategy through its website. He not only shows what he knows and what he can do, but also publishes what he needs. P&G is seeking and inviting new ideas from everyone and about everything from how they do marketing to how the organization operates as a whole. It recently acquired a new technology for an antimicrobial product from a company that submitted its proposal through the P&G website. So we see how P&G has innovated to bring customers, partners and employees under the same umbrella of their website. One of the ways to innovate is to adapt to new technologies. Today, technology has the power to create new industries and disrupt existing industries. A few years ago, when email technology arrived, most companies adopted it to increase collaboration and help their workforce get work done faster. People also readily adopted it in their personal and professional lives. But as the environment around companies becomes more complex, they need new technologies combined with innovation to increase collaboration.

Organizations are trying to bring the power of Web 2.0 tools and social software platforms that enable people to collaborate and/or form online communities into the enterprise to create – Enterprise 2.0. It is a term coined for Web 2.0 technologies that free employees from the limitations of using previous communication tools such as e-mail. It is a network of interconnected services and applications that provides managers with the right information at the right time. It provides organizations with a competitive edge in terms of innovation and productivity. New Web 2.0 technologies are not just for socializing like Facebook, Twitter, etc., but if implemented in the right way can help the organization in solving difficult problems, capturing rapidly changing knowledge, leveraging expertise, generating and refining of ideas and harnessing the wisdom of crowds. Web 2.0 can be used to improve communication, cooperation, collaboration and connections which is called the 4Cs of Social Software by Niall Cook in his book titled – Enterprise 2.0 – How Social Software Will Change the Future of Work. It can help the organization in making the exchange and collaboration of information between its employees and between the network of partners simpler and more agile, keeping the organization ahead of the competition.

According to a study conducted by IBM in 2010 called – Working across borders, the majority of Chief HR Officers surveyed said they need to take better advantage of their organization’s collective intelligence. The study also shows that companies that perform better financially are 57% more likely to use social networking and collaboration tools so that diverse teams spread around the world can work more efficiently than those that perform poorly. financially. Of the 707 executives surveyed, 78% of HR think their organization is not effective in encouraging the use of collaborative and social networking tools. Instead, only 21% of companies have increased investment in collaborative tools.

A survey by IBM showed that 19% of respondents use collaborative tools to identify skilled individuals, 23% use it to store critical knowledge, and 27% use it to spread innovation. He also indicated that many organizations are still in a very early stage of deploying social networking and collaboration tools.

Today, social software is being adopted in organizations to have better performance of their work forces. This gives employees a greater platform to collaborate and communicate than e-mail. Because of this, the relationship between the company and the employee and also between the employees is changing rapidly. This is helping organizations reshape themselves from the bottom up. There is also a growing trend where customers share their problems, new products and feedback on improvements in real time on the web. The generation of new ideas today is happening on the web where your competitors can see your changing strategies and can act accordingly. This means that companies must constantly innovate and make quick decisions. Enterprise 2.0 helps manufacturing companies integrate their suppliers through secure communication network, thereby reducing cost and improving quality. In this flatter world where even the smallest companies want to compete globally, social software provides them with a means to find and connect with new customers and thus expand their business.

Moving forward, industries must not only innovate, but also manage and strategize innovation according to the need of the hour. They will also need to adopt new technologies as quickly as possible to increase productivity and collaboration and stay ahead of the competition.

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