Social Media, Mobility Top Priorities for Midmarket CEOs: IBM
Open and transparent work environments, increased use of social media applications and mobility are key areas of focus for midmarket CEOs, an IBM report finds.A growing number of midmarket CEOs worldwide see the creation of a more collaborative work environment with a higher level of openness and transparency as a top priority, according a study from IBM. The number almost doubled in comparison to IBMs last study, with 45 percent of CEOs recognizing the need for a more open business environment, with social media platforms such as Facebook, Twitter, Foursquare and others having a major impact on the way businesses connect with their customers. In addition, the study suggested partnerships with other companies are increasingly important to midmarket businesses, with nearly 70 percent of midmarket CEOs planning on extensive partnerships, while 64 percent said they are focusing on the creation of a more collaborative environment to help increase employee productivity in the face of an ever-more competitive business landscape. Half of midmarket CEOs surveyed said they see partnering or collaborating as a way to stay on the path of innovation.
While the rise of social media applications can give midmarket businesses a competitive edge and help them gain important insights into their customers wants and needs, the report found just 15 percent of CEOs use social media platforms to connect to customers, although IBM noted that figure is expected to rise to 50 percent in three to five years. Overall, 71 percent of CEOs surveyed said they are focused on improving their understanding of individual customer needs.