Ignoring Web 2.0 Will Cost You

From your applications in innovating to recruiting, IT execs that ignore social networking technologies could be hurting their company's bottom line. CIO Magazine has great insight on how companies are expecting to benefit. The senior vice president at Serena Software says, "Not embracing social networking is like saying I'd rather hide my money under the […]

From your applications in innovating to recruiting, IT execs that ignore social networking technologies could be hurting their company's bottom line. CIO Magazine has great insight on how companies are expecting to benefit.

The senior vice president at Serena Software says, "Not embracing social networking is like saying I'd rather hide my money under the mattress than put it in a bank. Companies make a big mistake when they prohibit these tools out of the sheer fear of what employees will say when they communicate with one another." Serena Software has implemented "Facebook Fridays" to encourage their 900 employees in 18 countries to connect with customers, partners, and each other over the company's group portal on the popular social networking site.

Our upcoming and graduating university students live online, and they are not going to go to a company where there is a wall where they can't communicate with anyone. Same as you, you won't go and work for someone who is using Windows 95 in their company and you are using Windows XP or Windows Vista in your daily personal life – it's like taking a step back in time.

Social networking tools have penetrated less than 10% of the industry but Gartner representative are seeing a shift in the industry and predict that it will continue.

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Web 2.0, Technology