The where, when, how, what and who of work and the workforce are experiencing changes the combined impacts of which will be significant for almost all organisations whatever their size, sector or markets. To compete effectively, organisations need to understand the scale of these changes and explore the implications of these trends impacting all aspects of the organisation from sales to operations and everything in between. Workers too need to chart their future careers by knowing the likely opportunities and risks presented by changing markets, industries and employment models.
The McKinsey Institute published the results of their fifth annual survey on how organizations use social technologies, it surveyed 4,200 executives to understand the developments and progress throughout the years and benefits of these social technology applications. They are being deployed for the purpose of process enhancements and operations. Secondly they’re being used to find new growth opportunities. Surprisingly, a large percentage of organizations did not maintain the benefits of using social technologies that they had achieved earlier.
Do large companies need a Chief Innovation Officer? First they need to think more clearly about the range of issues they can innovate their way through and those that they cannot.