The main objective to investment is to get a return on these investments. The regular way to assess the investment is calculated return on these investments which known as ROI (Return on Investment). In this week we will discuss how the ROI calculated for IBM.
Implementation of Return On Investment has become one of the most intriguing and challenging issues facing the implementation of various activities with the context of using resources in any field. ( Phillips)
ROI for IBM:
At IBM, many issues are driving immense interest in ROI. Stress from senior managerial levels to show returns on their investment, and implementation of various financial commitments, for instance, in technology implementation situations within the IT department, is probably one of the most prominent drivers. Competitive economic pressures has attracted numerous views on how ROI is calculated, necessitating an intense scrutiny of the expenditures. (Phillips , 2011)
The ROI Business case example at IBM meets the requirements of all departments and other important groups. Despite the fact that calculation of ROI at IBM is an intricate process, main strength of this case example is on its accuracy. As claimed by Phillips , “the most challenging aspect of ROI is the nature and accuracy of its development.” Oftentimes, methods used to calculate ROI seem very confusing as they are surrounded by formulas, and statistics that often scare the most talented practitioners . Coupled with this disquiet are the misunderstandings about the approaches used to calculate ROI. Nevertheless, “ROI must be explored, considered, and ultimately implemented in most organizations” (Phillips, 2011).
However, the approach has many tangible and intangible benefits. An effective approach is judged based on “accountability trends”. As such, it has captured and demonstrated effectively the value to be added to the organization. It has helped lower costs incurred in developing and maintaining applications by improving productivity at IBM. Nevertheless, the approach at IBM is weaker on grounds that it provides scanty information on the issue of assigning monetary values, and to the key elements involved in developing it.
At the end, I would like to leave you with the informative video about ROI by Tim McGarvey
All businesses need visibility. The nature of every business directly affects what metrics it needs to track, together with the relevant indicators to track. With the presence of web monitoring tools, successful companies have been able to adapt better than their enemies. Certainly, this is true because they most companies miss the key point of adaptability as it is possible to adjust when a company or an organization knows what is not working. An organization can be making mistakes, but “simply lack the feedback to know when and how they’re messing up.” (Kerpen) Today I would like to discuss social media monitoring tools in Queensland Art Gallery..
Queensland Art Gallery:
The Queensland Art Gallery and Gallery is a gallery museum (space for visual art display) aims to link between the arts and individuals. It was established in 1895 and existing in the South Bank in Brisbane. The Queensland government is the owner and the operator of this museum that helps to attract artist tourist to Queensland.
Queensland Art Gallery, like many organizations should direct most of its energies on the health and effectiveness of its web presence, and its relationship with the market. With the social media monitoring tools, the organization will be able to monitor how its business undertakings affect its business and how to adapt (Croll & Power). Similarly, the organization should take advantage of the insights provided to iterate faster and to adapt better than its competitors. In so doing, it will also close the feedback loop between the changes it makes and the impacts they may have on its audience on the social media platform.
From my experience with Facebook Insights, a tool that is being utilized by the organization, online marketing battles are as good as fought. It is with keen interest that I was able to establish that potential communities are those that hang out online (Kerpen). Many blog posts define brands and compare organizations with their competitors. It is based on this observation that I came to establish that any business entity that is striving to survive, and to thrive must be aware of all its interactions with online communities, not just within its front doors (Croll & Power).
Social media monitoring tools are an effective way to gather market data from potential consumers. They yield good insights and provide clues of how members of the target market respond to products and services.
The social software is a revolution to business and akin enterprises by increasing the customer base through social media. Companies are increasingly tapping on the benefits of web 2.0 technologies, infamously known as enterprise 2.0 (Bell). This is being used in the in the finance, technology and, banking sectors. The appeal and emphasis on implementation of enterprise 2.0 is on the increased communication with customers. This is especially through social media platforms and wikis. Today I am going to talk about how social media help Timbuk2 in its business.
A striking example of a company that uses web 2.0 tools is Timbuk2. It is a San Francisco based company that deals with the supply of fashion bags. In order to increase its customer base, they have adopted the usage of web 2.0 technologies. This has led to an increase in the consumer base because of incorporation of social media platforms like Facebook and twitter. Moreover, timbuk2 also uses the social software to a low for customer reviews and feedback in the form of blogging. This ensures that the production of their bags is in accordance to customer satisfaction’s quality and standards (Kurtz).
Timbuk2 has employed the usage of Facebook, twitter, and blogging with an aim of improving their marketing strategy. They have the social software to increase their customer base. They recently added their services to Flickr. The social software encourages a one-on-one interaction with the consumers. The customers are able to make a match base informed decision depending on their consumer preferences. The customers are also encouraged to follow Timbuk2 on twitter so as to get news feed on new product releases. Ultimately, the integration of enterprise 2.0 has led to an increase in profit sales and consumer awareness of Timbuk2 products.
I will leve you with the intresting video about Social Media for Business
The awareness of web 2.0 importance in the health plays an active role in raising the efficiency of performance, improving the quality of health services, and the optimum use of resources in the health sector. Health 2.0 also aims to raise awareness about social media tools to provide an opportunity for the exchange of information and successful experiences in the health field. Our topic today will be about healthcare 2.0.
What is Health 2.0:
According to Wikipedia health 2.0 is “The use of social software and light-weight tools to promote collaboration between patients, their caregivers, medical professionals, and other stakeholders in health”. The concept of e-Health and the use web 2.0 tools for health provides a unique opportunity to develop health systems by increasing the efficiency of health services and improved access to care services.
The American Red Cross:
The American Red Cross is arguably one of the most important players in the healthcare sector. The institution is widely known for its compassionate services to those in need. From disaster relief to supporting American families, the institution has continued to offer health and safety services both to American society and to international community. While the institution has been very successful in delivery of its service, the recent wave of social networks particularly the application of Enterprise 2.0 technology promises to offer one of the most powerful tools of communication among the stakeholders involved.
Some benefit that associated with the implementation of Enterprise 2.0:
One such benefit associated with the implementation of Enterprise 2.0 is in the area of mobilizing resources. Mobilization of both human and financial resources is critical factor for the organizational survival. Implementation of Enterprise 2.0 by the organization will not only improve the recruiting capabilities of the company but also result to addition of donors and volunteers which are critical for the organization’s survival. Banking on enterprise 2.0 for fundraising across the globe is a viable option that the organization adopt. Furthermore, researches continue to show that fundraising on social platforms have become the accepted standard for nonprofit organization. This is confirm on the fact that the cost of fundraising is less as compared to the traditional means. Moreover, employing enterprise 2.0 as a tool for soliciting money will help the organization save money and increase revenue. Relying on enterprise 2.0 as a source of fund raising has the potential of creating and expanding volunteer networks and retaining support from donors and volunteers. Another benefit of implementation of Enterprise 2.0 is publishing and collecting Information. With the social media patients are able to access to the Internet and search for their condition and looking for the treatment options.The American Red Cross Facebook page is important resource to provide patients with quick information about their health. The information that available on Facebook page help the patients to become more knowledgeable regarding the effectiveness of treatment and the risks associated with them.