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.
This focus on collaborative environments is
also changing the way businesses search for the right employees, with CEOs
regarding the interpersonal skills of collaboration (72 percent), communication
(68 percent), creativity (58 percent) and flexibility (66 percent) as key
drivers of employee success. Employees who are able to reinvent themselves
through collaboration will find themselves with an edge in a competitive hiring
market, the report noted.
"Midmarket CEOs are establishing more
open and collaborative cultures in which employees not only connect more with
each other and the outside world to innovate, but to reinvent themselves.
Learning from each other, they stay ahead of the skills curve and open to
change," Andy Monshaw, general manager of IBMs midmarket business
division, said in prepared remarks. "Business leaders are embracing
technology in completely new ways to spot oncoming threats, capture an
immediate, unexpected business opportunity, and address business challenges
with a clear focus on partnering with other organizations to seize these
opportunities to drive growth and innovate."
Business mobility should be another key area
of focus, the report concluded, as mobile commerce is expected to reach $31
billion by 2016. Personally tailored location-based services can be a big
competitive boost to midmarket companies if they are integrated into their
customer bases increasingly multichannel approach to acquiring goods and
services. Under pressure to deliver to customers when and where they want goods
and services, CEOs recognize this requires reaping more information about those
customers: 65 percent of midmarket CEOs identify customer insights as the most
critical investment area.
Nathan Eddy is Associate Editor, Midmarket, at eWEEK.com. Before joining eWEEK.com, Nate was a writer with ChannelWeb and he served as an editor at FierceMarkets. He is a graduate of the Medill School of Journalism at Northwestern University.
Email
Print
