Deloitte/MIT SMR Report: How are companies harnessing the value of social business?

Social Business ReportHere is an invitation to check out new findings from the 2013 Global Executive Study and Research Project co-sponsored by Deloitte and MIT Sloan Management Review (MIT SMR), Deloitte Social Business Report: Shifting Out of First Gear.

Social networking can provide instant access to people and information throughout the world, giving business the opportunity to engage with customers and connect employees in ways never before imaginable. So why are some businesses benefitting more than others? And how are they benefitting? What kinds of enterprises are benefitting the most?

To answer these questions, Deloitte and MIT Sloan Management Review (MIT SMR) are collaborating on a multi-year global research project to probe executives’ views of the social business opportunity and how companies are harnessing its value. This year’s second annual research study included 2,545 respondents from 25 industries and 99 countries, and interviews with nearly three dozen social business thought leaders.

Summary of findings:

o The importance of social business is mounting. In last year’s study, 18 percent of respondents said social was “important today.” This year, the number jumped to 36 percent.

o The importance of social is growing across all industries. Between last year and this year, respondents from all industry sectors increased the value they place on social business.

o Companies are developing more mature social business capabilities by focusing on key business challenges.

• 65 percent of respondents use social business tools to understand market shifts.
• 45 percent turn to it to improve visibility into operations.
• 45 percent leverage it to identify internal talent.

Deloitte/MIT SMR invite you to download your digital copy of the report findings and explore the infographic to gain fresh insight into the social business landscape today and discover how some businesses are reaping value.

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