At the first anniversary of the Singapore chapter of CIOciety, a CIO club organised by CIO Asia magazine and Cisco Systems catering to the business needs of senior strategic technology executives, 14 key CxOs gathered at the club’s forum cum boardroom discussion on 24 June.
The event, hosted by semiconductor manufacturing company GlobalFoundries, with the theme Business Collaboration: The Rise of Socialism, focused on the myriad issues surrounding the highly current and critical issue of new media within the context of business collaboration and communication.
According to Ross O. Storey, former editor of CIO Asia, collaboration is vital for success in today’s interconnected business world, and a rising phenomenon within this paradigm is Web 2.0 and its associated platforms.
A study by Forrester Consulting called ‘Social Networking In The Enterprise: Benefits And Inhibitors’ earlier this year found that the top uses of social networking by enterprises were marketing activities, customer service activities, reducing travel costs for meetings, communicating with employees, and enabling more effective work among geographically disperse teams.
Such a keen focus on people as the greatest company resource means that organisations must enhance their collaboration capabilities to realise increased productivity, market presence as well as employee and customer satisfaction.
Some of the key global trends affecting the way business operates include the size and scope of recent Internet growth. According to Internet World Stats, there are 1.8 billion users today, a 400 percent increase over 2000. In addition, ABI Research notes that there will be seven billion new wireless devices by 2015, and Radacati Group notes that there are over 200 billion e-mails sent every day.
“We have all experienced exponential change over the past two decades, and the change continues,” said V.C. Gopalratnam, vice president, information technology, Cisco. “The workforce is evolving with Gen Y engaged with social media, video and mobility technologies.”
This has forced businesses to ensure that their organisational work environment evolves to keep pace to meet the needs of the next generation. For Cisco, this means leveraging IT and collaboration to transform the workplace.
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