Your Buzz on IBM CEO Study: Openness by Social Media Is Key Enabler to Organizational Success
We are re-positioning Film Annex Buzz to "Your Buzz"
for a number of reasons, and this IBM study was one reason.
IBM recently conducted its biennial study of CEOs from all over the world, seeking to gain their perspective on emerging trends and issues. This year's study, entitled Leading through Connections
, sought to glean insight into how CEOs are responding to the complexity of increasingly interconnected organizations, markets, societies and governments.
One of the study's principle findings was that "open CEOs’ identify openness enabled and supported by social media and technologies, as a major influence on their organization and its success. These organizations perform better because they are utilizing the collective intelligence, are more agile, able to act quickly to gain higher profitability and growth."
The research indicated that only 16 percent of CEOs are currently using social networks to be more directly engaged with their employees, customers and partners. Within the next three to five years, this number is expected to jump to 57 percent. At this point, social media is "the least used means to interact with stakeholders. Within five years [it will] become the number two 'engagement' method, closely behind face-to-face interactions as number one." Read more at InnovationManagement.se
From the article:
"CEOs are beginning to recognize that using email and the phone to get the message out isn’t sufficient anymore. [They understand] that using social technologies to engage with customers, suppliers and employees will enable the organization to be more adaptive and agile."
, contributor Mark Fidelman sums up the study's findings neatly when he writes,
"The IBM study shows that CEOs and the companies they manage must constantly evolve to stay competitive. Partners, suppliers, employees and customers want CEOs to communicate with them on a personal level to build trust and to help align them to the organization’s strategy. There is a lot at stake here. And if CEOs continue to hide in their Ivory Towers under the guise of some old command and control mentality, the next chapter in their career might be written somewhere else.
No one wants that."
Read more at Forbes.com.