Thanks to the Internet, mobile technology and now the Internet of Things, the interconnectedness of people, places and things is growing at an unprecedented rate.
In a multiphase research programme sponsored by SAP, The Economist Intelligence Unit is investigating the economic and business impact of this 'hyperconnectivity'. Phase one of the programme, published in 2014, examined the economic of impact of hyperconnectivity.
Phase two of the programme looks in depth at the impact of hyperconnectivity on organisations. To explore this question, the EIU surveyed 561 executives from around the world, the results of which are explored in the Hyperconnected Organisations report.
The key findings are as follows:
- Adapting to hyperconnectivity is a matter of survival, most executives agree. Nearly six out of ten (59%) survey respondents agree that a failure to adapt to hyperconnectivity is the gravest risk their company faces.
- However, most view hyperconnectivity a positive influence. Eight out of ten respondents believe hyperconnectivity has been beneficial for their organisation, and two thirds say it presents more opportunities than threats.
- Only a minority expect their organisation to radically restructure as hyperconnectivity grows. However, experts warn of the need for profound change to meet the needs of the hyperconnected age.
Click the dowload button below to read the whole report.
To read how hyperconnectivity affects individual organisations, click the links below to access case study articles.
- Tata Technologies case study: From lean to smart
Faced with the challenge of turning Jaguar Land Rover into a global brand, manufacturing giant Tata has built a highly-interconnected manufacturing base to gain the benefits of both globalised and localised production.
- John Lewis case study: Changing channels
How UK retailer John Lewis is adapting to the era of hyperconnectivity by merging digital and offline channels
- Animated infographic: Hyperconnected organisations
This animated infographic provides an overview of the research findings
- Video case study: Haier's hyperconnected strategy
An interview with Yoshiaki Ito, CEO on Haier Asia, on how the company is adapting its strategy and organisational structure in response to the hyperconnected age
In a related study, the EIU conducted a survey of over 300 leaders in "market facing analytics" to determine what they are doing, the challenges they face, and how successful they have been when going on the offensive with data. Find out more about Competing smarter with advanced data analytics here.
Published:May 4th 2015
- Peter Swabey