Monday, December 20, 2010

McKinsey Finds "Networked Enterprises" Outperform Others

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McKinsey & Co released last week results of new research that shows that companies that use Web 2.0 intensively gain greater market share and higher margins. McKinsey is prominently highlighting this new study in their homepage (as shown below).

McKinsey uses the term "networked enterprises" (what others are calling a Social Business) to describe companies that are using Web 2.0 technologies either internally, externally, or both.

Along with the study, McKinsey also published a 5 minute podcast with researcher Michael Chui where he explains his findings. Some of the results that really caught my attention were that McKinsey found that "networked enterprises" have:

  • achieved significantly higher market share than their competitors
  • achieved higher operating margins
  • become known as market leaders

McKinsey has been doing this study for the past four years and they say that this is the first time that they've seen a correlation between the use of web 2.0 technologies and corporate metrics like higher market share and higher margins.

So, are you a networked enterprise yet? If not, what are you waiting for?

To listen to the podcast and read the study, go here.

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