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New Deloitte Point of View Addresses Business Value of Social Software

NEW YORK Feb. 23, 2011

What:

" Social Software for Business Performance "  

Who:

John Hagel, co-chairman of Deloitte’s Center for the Edge

When:

Available immediately

Details:

Deloitte’s Center for the Edge has issued a new point of view addressing the business value of social software.  The paper, "Social Software for Business Performance," discusses how companies can leverage social software to significantly enhance business performance in the short-term and transform it in the long-term. Early adopters of social software have the potential to reap financial rewards and develop skills and experience that will help build a stronger competitive position over time.

As explained in the paper, companies remain skeptical of the business value of social software. This skepticism is perhaps justified given the two approaches typically used to deploy this technology: ad hoc initiatives at the local level or large-scale deployment of social software platforms without any clear focus on performance objectives.

In fact, social software has unique capabilities to address current operating challenges and improve operating metrics. To capture this value, however, companies will need to more systematically assess the operating metrics that have the greatest potential to move the needle and then surgically deploy social software to ensure near-term performance impact with modest investment.  The paper highlights the experience of one early adopter, Alcoa Fastening Systems, which has significantly improved employee productivity — achieving a 61 percent reduction in time required for compliance activities — by leveraging social software tools.

Virginia Chaves John Hagel

www.deloitte.com/us/about

subsidiaries.

Virginia Chaves

Hill & Knowlton

+1 212 885 0530

[email protected]

SOURCE Deloitte

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