The combination of direction and speed is critical as companies extend and evolve their current IT systems and lines of business applications for the 21st century workplace. Running in the right direction requires the ability to engage and align your people, customers, channels, partners to common goals and objectives. With it, companies can implement new business strategies and processes at scale while de-positioning competitors. I call this Business Velocity.

Velocity Wins in Today’s Fast-Changing Business World - Innovation Insights

The most pressing topic facing global businesses is dealing with the accelerating rate of change. There has been a material increase in corporate Darwinism, and a rapid acceleration of threats and opportunities. There is a new reality to doing business in the 21st Century. The convergence of social, mobile, cloud, big data analytics, and business networks that connect employees, partners and customers have forced companies to be quick on their feet and adapt to industry forces on the turn of a dime — or risk extinction.

Velocity Wins in Today’s Fast-Changing Business World - Innovation Insights

The bottom line for CIOs and social is that the picture is still being drawn. It’s not just social business, but big data, digitization, consumerization of IT and the increase of marketers’ strategic use of digital data tools that are changing the power structure and dynamics in the C-suite and putting in flux responsibilities for technology.

Can CIOs Step Up and Be Leaders in Social Media? | MIT Sloan Management Review

A lack of experience in social engagement. According to a survey by the document collaboration firm Harmon.ie that measured the most social CIOs in the Fortune 250, the authors reported that “the most striking finding of our study is that only 10% of the Fortune 250 CIOs are themselves social.

Can CIOs Step Up and Be Leaders in Social Media? | MIT Sloan Management Review