More money for social media connected companies

Companies using social media or “collaborative Web 2.0 technologies” are achieving higher profits than their competition, according to research carried out by McKinsey.

Calling such companies “the networked enterprise”, McKinsey’s survey showed “the Web 2.0 use of these companies is significantly improving their reported performance”; its data shows that “fully networked enterprises are not only more likely to be market leaders or to be gaining market share but also use management practices that lead to margins higher than those of companies using the Web in more limited ways”.

The research comes with a stark warning for businesses falling behind on the web front – “if you fall behind in creating these internal and external social networks it could well be a ‘critical mistake'”.

(Source: Wall Blog)

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Charlie Beckett, director of POLIS at the London School of Economics, reacts to news that the UK government forced the Guardian into destroying hard drives that contained information leaked by Edward Snowden.


(Source: POLIS)

 

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