Will Social Technology Change Business?

The impact of social technology on business as usual is and will continue to be profound. Profound in that social technology fuels never-ending change caused by the markets of conversations. These markets represent intelligence that is transparent, fluid and engaging by crowds of suppliers, employees and consumers.

Change is now fueled by the rate of interest and the rate of change caused by interactive conversations from everywhere and everyone.

Instead of the old model of change, from the inside out, the new model of change is from the outside in. Markets are shifting at the speed of a mouse click. These markets represent the rate of interest change (both economic interest and consumer interest) and the interest is changing based on the consumption of information and knowledge.

The voice of the customer used to be analyzed based on old feedback mechanisms and survey’s which were poorly designed and time-consuming. Today the voice of the customer is instant, transparent and designed by the content and context of open and transparent conversations. The new world of instant communications controlled and influenced by the end consumer is the outside force forcing fueling organizational changes for those businesses wishing to thrive or survive.  However, the pace and strength of these outside forces is changing the very change models used before by the leading management consulting firms and guru’s on organizational change.

McKinsey, one of the top management consulting firms in the world, is even changing their own approach to the creation and implementation of organizational change models. The video below illustrates their commentary on changes fueled by the current technological revolution. The irony is that the current rate of technological change is not static but, as they show, revolutionary.  The irony of a “revolution” is that is not only fueled by change but its outcomes create even more change and it doesn’t seem as though the rate of change and interest in new technology will ever become static.

Organizations will have to learn change is now a permanent process and the only thing that should be managed is the rate in which you adjust to it. Not adjusting or accepting that change is permanent means you’ll be left by those that do. Get it?

What say you?

Lenny Mendonca: How Can You Make The Most Of Technological Revolution?

Lenny Mendonca

Chairman, McKinsey Global Institute

The chairman of McKinsey Global Institute analyzes how technology is catalyzing business successes—and failures.

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