Thursday, July 21, 2011

The rise of the networked enterprise: Web 2.0 finds its payday

A recent report by McKinsey & to show, using a proprietory survey of over 1000 company executives, that companies that incorporate Web 2.0 technology to increase collaboration see greater growth in market share and other economic indicators.  The majority of respondents to the survey say that their companies enjoy measurable business benefits from using Web 2.0, including increased speed of access to knowledge, reduced communication costs, increased speed of access to internal experts, and increased customer satisfaction.

The report goes on to say:
Moreover, the benefits from the use of collaborative technologies at fully networked organizations appear to be multiplicative in nature: these enterprises seem to be “learning organizations” in which lessons from interacting with one set of stakeholders in turn improve the ability to realize value in interactions with others. If this hypothesis is correct, competitive advantage at these companies will accelerate as network effects kick in, network connections become richer, and learning cycles speed up.
This appears to be another example of how the business world has gone beyond just looking at collaboration or Web 2.0, and is starting to focus on the more important outcomes of using this technology.

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