Intoday’s Corporate mistrust & Free Market Capitalism collapse it is very critical for companies to evolve themselves to be crystal clear in their communications to investors & public at large.
Only companies with transparent governance & initiatives will win the minds of prudent investors to ensure its global growth.
Corporate Media Center 2.0 Initiative has been evolved to address the critical needs of Corporate communications.
When Stock Markets go south due to global crisis scenarios what should Strong companies do to keep their Investors Intact?
They should start doing their work much early as a integral process of their corporate communications not to wait for the crisis to occur, affect & then react.
Investors need to assess the quality and sustainability of a company’s performance by constant interactive communications with the Management & Stakeholders
There has been paradigm shifts in the business fundamentals due to technology & globalization. The competitive advantage of a firm has changed its values from tangible assets to more of intangible assets like capability to Innovative, Employee Resources, Branding etc., instead of Plant, Machinery, Buildings, location etc., This shift in the economic base of companies demand a new level of insight in to a company’s activity for an Investor to assess the Strength. for eg., A firm that posts profit today by cutting back on investment in staff training or a customer relationship management system is a very different investment proposition than one that posts slightly lower profits despite maintaining a high level of investment in these factors of future prosperity.
Companies with good strategy & vision should be able to engage their investors more in their activities by involving them at a greater level than just informing them on the actions envisaged. Especially listed companies with few thousand investors could collaborate with their Investors on the perspectives of the company through effective participative Media using technology tools like Web 2.0 where the investors can view, provide comments, rate the initiatives and so on, this could very well serve as a Market Research for the company on its proposed engagements and also serve to engage their investors in every action.
This approach of engaging the Investors than information publishing could keep the investors intact with the initiatives of the company and make them stand with the company in times of downturns.
Hospitality Industry needs to coordinate various departments towards a single Objective Guest (customer) Satisfaction.
Web 2.0 Can enhance the effectiveness of the Services provided through great knowledge sharing on guests and coordination between the staffs.
Web 2.0 platform for Hospitality Industry could build successful Knowledge base which steadily and surely bring more and more customers by the service effectiveness it creates to the employees towards greater understanding of their customers and organization’s Service motto.
Hospitality 2.0 can create an almost effortless improvements that will not only consistently increase service effectiveness, but will also make expected services easier and easier with its knowledge sharing resulting in sustained profitability increase in the longer run.
The Intellectual resources gained out of Hospitality 2.0 is created and generated by its own users (Service staff, Production staff, Support Staff, Management, Customers etc.,.)“
Most companies agree on the power of what it is”Knowledge Management”, yet very few actually use it. And of those who do use it most do so in a not so systematic way that can produce a gradual, consistent, and reliable improvement. What’s ironic is that it’s not difficult It’s easy when you know exactly what you need to achieve with certainty in Web 2.0 – Hospitality 2.0
Global Sourcing abilities are largely determined by utilization of the right resources (human) with the absolute skills in the precise location to serve the global customers of the company. Today for most of the large companies their customers are not definite to a particular country or continent they are all over the world.
Procuring & globalization will be the key factors for success. When the resources of such companies are beyond borders for control the only factor to keep them in tandem with the objectives would be by postively influencing them to gain the corporate focus.
For the People (Resources) to absorb positive influence and reciprocate to the effects of influence is possible only when they know the other end people who are motivating them. But this cannot be achieved by flying people across the globe often In which case Collaboration among the resource groups in a virtual environment will be critical for desired productivity. Web 2.0 comes in to play here…
On the same account Customers have become more demanding and the Choice is theirs now. They expect the company to perform the deliveries by bringing resources from any where in the world which reflect in their trust and power for the organization.
It has become imperative for companies to efficiently balance their global sourcing and Regional Execution abilities and this can be achieved only through effective communication to collaborate on wants and needs from organization to Market Research to Strategy reaching customers.
A platform to meet the above objectives can be constructed using web 2.0 technologies
It is obviously a daunting task to identify the Resource areas needed for tight knit collaboration, formalizing a social informal network of Resources to streamline information flow & productivity ensuring shared accountability.
Clarity on the roles & responsibilities of the users of the collaboration platform has to be perfect to avoid communication mishaps.
To achieve the execution energy basically the company should spread excitement on such an initiative within the company and then with the customers. When excitement flows through out the resources quantum leap in achievements can happen.
This will not create magical results overnight but as the effort for web 2.0 initiatives progress things will unfold towards better performances with company resources and higher satisfaction with customers.
Referential Recruitment is the objective of using Web 2.0 in this segment though it can be presented at a public access level with authentication limitations.
Users
Employees, Applicants
Administrators
Human Resource Department Members
Functions of Human Capital Networks
Recruitment Process
Job Offer Anouncements by HR Members (Categorized & accordingly published to user groups)
Job Offer Watchlist by Employees based on their profile & References Profile
Employee Referral Invitations on Job Offers to references (Friends & Acquaintants)
Applicant Registration & Login facilities based on Referral Invitations by Employees
Applicant recruitment form filling & resume Upload Features.
Applicant Recruitment process Correspondence
Applicant Recruitment Status Announcement to Referred Employee & Applicant.
Forums
Applicant Clarification on Roles & Requirements through Discussion forums & Answers.
Videos
Applicant Video Presentation on his profile
Recruiter Video Presentation on their Requirements & Company Profile
Web 2.0 has been viewed by SMBs (Small & Medium Businesses) as a Matter of corporate Survival in today’s situation. On the outset SMBs view Web 2.0 as a medium to connect more with their Customers and provide enhanced services to existing customers while their competitors are offering flashy websites which are to be surpassed to compete.
For Large Enterprises as we have seen in my previous post’s Mckinsey Global survey Results Web 2.0 is predominantly used as a Knowledge & Internal Management tools for their productivity & Resource Development along with Customer Services Approach.
In General from the customers point of view they have started to expect these user generated content and interaction possibility as means of the transparency of the company & its services which they trust to be decisive. This culture of the customers to expect the Web 2.0 Services as any other Website feature pose additional challenge to be met by the companies to ensure Web 2.0 adaptability as quickly as possible to remain in track of the Market Course.
Most Powerful communication platform on the Internet contributed by a set of tools known as Web 2.0 Technologies.
Web 2.0 Tools means set of communication components made available to be present online
Communication could be in various formats like Text / Audio / Video / Flash Presentations / Text formats like Documents / Pdf / hyperlinks / external information collaboration / action on collaborative content etc.,
Apart from powerful communication using web 2.0 tools it also means classification of contents, Authentication of Access rights to contents & Participation of visitors in the means of interaction towards contents.
Hope you have seen the video and understood the general capability of Web 2.0 on a social scenario. We are experts of these web 2.0 technologies and we adapt them to the needs of Corporate or Institutional goals which we call it CORPORATE 2.0.
We do have lots of sites that offer Social networking tools like – Facebook / My Spaces / You tube/ Flickr etc., which contains and provides all the facilities of Web 2.0 tools.
The idea of creating a web 2.0 application for Hospitality Industry Entity like a Resort, Hotel, Club or Restaurant is to provide a secured and premium sense to the guests of the Hospitality outlets.
Everyone who accesses the web 2.0 application is loaded with loads of private information like details, photos, Videos & views are checked for genuineness as they are either booked with the Hotel as a Guests or introduced by such guests to the platform.
Hence sharing with pleasure and secured feeling is promising when a hospitality outlet establishes its own Club tool beyond this is the Brand identity of the outlet that is flown to the guests and their circle of Friend and Relatives who are the prospective customers again. This can create immense marketing value. Also insightful Decision support Reports could be gained from the Statistical analysis of Customer behavioral approaches in the Web 2.0 application for greater customer service knowledge gathering.
Customer Service centric Service tools by web 2.0 Application are
Guest Clubs - Can interact with guests of similar interest while their stay or away
Guest Profiling - Provides Customer Database with personal preferences recorded for increased service effectiveness in the form of personalized service
Guest Pages – Member (guests) can write articles / blogs provide rating on any sight seeing place of interest during their visit to be shared with other guests or prospective visitors which drives to increase the flow of visitors to the location or hotel.
Guest Videos – Members can post and share videos, rate them like in You Tube but propreitary to the Hotel or Resort Web site’s Web 2.0 application like you tube and promote it to their family & Friends with or without Access Restriction.
Guest Photos – Members can post and activate Photo gallery from the Hotel or Resort Web 2.0 application like their own Flickr and promote it to their family & Friends with or without Access Restriction.
Guest Forums – Members and Hotel Management can create and evovle any discussion whether related to the Hotel Service or specific issues faced by them in their stay or any location specific topic for over all knowledge sharing and experience input to better update the Hotel Management on their initiatives for a wonderful guest experience
Guest Private & Public Pages – Members (Guests) can define their own means of which part of their information / photos / videos / comments /participation on the Web 2.0 application to be private viewed only by them or their close circle or to the global visitors
Guests networking – For globe trotters & Specific Location flockers these tools will provide possibilities to network with like minded tourists & business travellers where they can collaborate to achieve more as a club.
Merits for the Hospitality Industry
Statistical Analysis of the Member behavioral approaches & perspectives can be traced in the Web 2.0 activities and correlating it with the Profiling of the member can be of immense value to enhance the personalized service to the member or similar members by the Service entity.
Global market situations and increasing competition has made customers the Chiefs of corporate success. Hence Customer Centric Approach has become the core strategy that reflects in every process of business, it is very critical for the survival of any companies now.
Companies in current market trends need to differentiate their services and achieve competitive advantage by ensuring Customer satisfaction and primarily customer retention in Service Segments.
Current financial market trends have limited the capital supply and hence companies opt to deploy cost cutting measures in all their engagements. But this should not affect the customer satisfaction at any levels which otherwise will be drumming their own demise.
To Ensure prompt customer support Companies should engage in better customer interactions in their services and provide efficient support. Establishing a perfect customer management infrastructure online using Web 2.0 technologies with excellent communication facilities that clarifies and educates the customer to his needs would be primary.
In terms of costs the above customer Management infrastructure would not only increase the customer satisfaction levels but also reduce their support call expenses.
Companies should evolve a Customer Centric approach plan using Web 2.0 technologies in a phased manner starting from high return low effort infrastructures online.
4Web based – text / Audio / Video / presentations etc.,
4SMS
4Email
Healthcare Information
4Regional – Maximised local Information
4Events/ seminars / workshops – Announcements /Videosand contents of successful events / Feedback Analysis of Events
4Mass & Targeted SMS and Emailing for susbscribed information or emergency information
4Forums – Questions & Answers
Elderly Care using Web 2.0
Elderly Care application can be designed to maintain the profile listing of Elderly of the members.
Application can Provide service booking (care takers / Nursing support etc.,) for the elderly Searching facility for the well wishers(sons daughters/guardians) such as volunteers, service groups, paramedics and individuals will be to service them.
Application will provide status update facility and notification of the status of the Elder to their well wishers through notifications such as emails and SMS upon their service weekly, daily etc.,
Online service booking and payment handling would be provided in the portal along with the rating of the service done by the service providers to enable other well wishers choose them.
Insurance stake holders Communities that can be achieved to host online by using Web 2.0 /
Insurance 2.0 can be
Agents
Brokers
Re-Insurance brokers / Companies
Underwriters
Adjusters/ Surveyors
Claim Specialists
Risk Experts
Management
Customers (Policy Holders)
Each of these Communities would comprise of the eligible users (Members of the community) based on their Role in the Insurance company.
Insurance 2.0 can facilitate creation of such communities (Categorization) with authentication (for permission rights ) to engage themselves in Knowledge sharing towards achieving their objectives.
I came across a public portal using web 2.0 for Insurance community
We can gain insight of the utility value web 2.0 can bring in to Insurance business by assessing this Portal
http://www.ampminsure.org/
If such a portal is available for a Insurance company where all your employees and stake holders of the business can collaborate to achieve similar results. It can create Immense value to their assets.
I hope you drill the above url for better understandings.
Objectives of web 2.0 adaptation for your Insurance business Knowledge Management on a mission level could be
To Build a base of loyal & successful Knowledge force which steadily and surely bring more and more business by the knowledge it supplies to the community.
To create a slow, gradual, almost effortless improvements that will not only consistently increase sales, but will also make running the business easier and easier with its knowledge sharing resulting in sustained profitability increase in the longer run.
It all begins with creating “The Single Most Powerful platform of Knowledge management which updates and enhances its capacity by its own users (Agents, Brokers, Customers etc.,.)“ Web 2.0 – Insurance 2.0.
Most companies agree on the power of what it is”Knowledge Management”, yet very few actually use it. And of those who do use it most do so in a not so systematic way that can produce a gradual, consistent, and reliable improvement. What’s ironic is that it’s not difficult with Insurance 2.0.
It’s easy when you know exactly what you need to achieve with certainty in Web 2.0
Insurance companies should consider Web 2.0 as an integral part of their IT Infrastructure.
Primary Reasons
Cost Savings
Service effectiveness
Recession times coupled with surprise disasters like our Lehman Bros, Merrill Lynch or AIG could tighten all aspects of spendings of Insurance companies at the same time pressured to expand their Market scope to survive.
As the Insurance companies major revenues are generated by their agents, underwriters etc., it becomes imperative for the company to keep engaging them on the learning process of their company policies and market challenges. Hence communication beyond their company environment means the maximum. This scope of communication channel demands them to ensure that whatever subject matter is of need to be communicated has to be well engaged with their listeners predominantly Agents.
They conduct seminars & meetings for coaching their agents which demands expenses on either side from the company for hosting as well from the agents for commuting.
Web 2.0 for Insurance company when properly approached and implemented could reflect tremendous cost savings and communication success which in turn could reflect in their profits & performance.
Tacit Knowledge gathering & Sharing through out the company or a specific department or business process stake holders is the objective of using Web 2.0 in this segment.
Users
Employees & Management of a specific business process or company as a whole
Administrators
Department Knowledge Contributors, Heads, Mentors, Leaders etc.,
Functions of Knowledge Management 2.0
Application Scenario
It can be applied to any department of business process and the significance of it is dependent on the impact or effect it the process may have on a company’ success.
For instance., let us analyse the Knowledge Management Significance and effect in Sales Department which carries direct revenue generation source with it.
Iet us consider implementing Knowledge Management 2.0 in a Multinational company which sells its Products & Services across Asia Pacific Region with presence in Singapore, Indonesia, Malaysia, Phillipines & Australia.
They are selling similar products & services in all these countries (products like Papers etc.,). Each country has a Sales Department integrated with it to take care of the sales function. If Singapore is able to close more sales to a certain industry say for e.g., Educational Books Publishers where as in other countries they are only able to Magazine publishers the sales Department of Singapore has a knack or the market is approached with a different strategy by the sales Team in Singapore which permits them to close the deals easily.
This tacit knowledge or the strategy which the Singapore sales team engages could be valuable given the similar economic specifics of the region. This Knowledge could be shared to the regional Sales Members through this Knowledge Management 2.0 platform using Web 2.0 Technologies.
How?
We can get the Singapore sales team to regularly publish their efforts and success methods on the Sales Community Club of the Company in the Knowledge Management 2.0.
Case studies of their Market Approach & efforts or Sales team could be posted as Work Shops to be accessed by all the regional sales members to view & learn from it
Using Discussion forums in the Workshops Regional Sales members could present their current lead situations and seek collaborative approach to close the sales by capitalizing on the successful experience of other members.
As we practice this knowledge Management Process it will become a valuable training manual for the company to train its new sales team from the archives of these information being available in the sales community Club of the company.
The same scenario instead of looking at a Multi-locational company could also beimplemented for small or medium a single location company where it has a sales department hosting a number of sales personnel in a Sales Department. By using the above process the Expertise or the tacit knowledge associated with a Single or a bunch of Successful Sales Personnel can be shared with all the other Sales personnel to increase the overall productivity of the Sales Team
Success Mantra: As the employees or the Members are sharing their Tacit knowledge which is known only to them, it is very important that members who contribute greatly to the Knowledge Management community should be encouraged properly, highly Rewarded & Recognized for their Contribution by the Company to sustain the knowledge input & Sharing.
aches in the Web 2.0 application for greater customer service knowledge gathering.
