Social Innovation - the Next Great Management Breakthrough | BUSINESS and more | Scoop.it

The last few years have presented some of the most challenging economic times in the modern business world to run a company, never mind trying to grow it. Today, despite the still-shaky economy, businesses are starting to re-gain their confidence in their ability to grow profitable revenues.

 

This new era of expansion will not resemble the irrational growth of the late 1990’s, but will take a different path. Two factors have converged that require companies to re-set their businesses to a new reality.

 

1. The first is that shareholders are less tolerant of businesses that cannot demonstrate fiscal prudence. Therefore businesses, while starting to grow revenues again, have chosen not to resume hiring at the same levels. This new reality means that employees are expected to do even more with less than they had before.
2. The other factor is that customers, driven by the social web and mobility, expect more services and more engagement from companies they do business with. Thus, a fundamental shift in the way companies operate needs to take place...