Innovation and the Role of Social Media

A very interesting post by Andy Mulholland of CAP Gemini this week – “The CIO is trapped between the CEO wanting innovation and the CFO needing compliance” – had many interesting points:

“A successful move in one area won’t be recognized and rapidly implemented in other areas to multiply the benefits, or worse unsuccessful ideas will get repeated adding to the cost and time wasted. That’s where the need to really address the combination of social networking, collaboration, knowledge management and business information is required.”

Without communicating what works and what doesn’t, the innovations of our organization may be lost, and the failures repeated. That makes sense.

If you liked Andy Mulholland’s blog post, you need to hear Howard Beader’s presentation at Enterprise 2.0 Conference on innovation and the role of social media. (Howard will be speaking in the Market Leaders Session at 1 PM on Wednesday June 22nd). Some of the thoughts Howard will share include:

• Innovation is more than just ideas, it’s getting ideas to market, and removing the obstacles that stand in the way
• Innovation is about parallel processing – you can’t remove the obstacles one by one because you will get to market too late
• Innovation can be about product innovation, but it can also be about process innovation

This brings us to Andy’s second issue he raises:

"..the need for integration with, and visibility of, processes to understand exactly how the enterprise functions and delivers on its policies…"

Andy goes on to talk about this from the perspective of compliance and the CFO’s concerns. And it’s true: innovation can come both in product innovation, but also internal process innovation. And process innovation can have as much impact as product innovation.  New supply chain models can disrupt an industry overnight. Many people ignore process innovation as a benefit of social business, because it is perceived as a bottom line rather than top line impact. But it can actually impact your top line by changing your entire business model.

Oracle WebCenter sits at this crossroads between product innovation and process innovation, enabling you to drive go-to-market innovations through internal social media tools, removing obstacles in parallel, and also providing you deep insight into your processes so you can identify bottlenecks and realize whole new ways of doing business. Learn more about how at the Enterprise 2.0 Conference, where Oracle will be in booth #213 showing Oracle WebCenter and Oracle Fusion Applications.

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