Every business works best when every part of the organization, including external partners and customers, is agile and interconnected. Executives must ensure that high-quality information flows through their entire business ecosystem, allowing all contributors to interact in ways that reach the organization's goals.
Oxfords Economic was commissioned by SAP to conduct a survey of 3,000 business executives from around the world and from 10 different industries, and three in-depth interviews with executives within the countries surveyed. These conversations led to interesting insights of how interconnected companies operate nowadays.
The report summaries three key aspects of how executives interconnect their business with a holistic management style. According to their findings, executives must:
- Interconnect and integrate.
Organizations must view operations as though all business relationships—internal and external—are part of the same network. Build this philosophy into all decision-making, nurture collaborative processes, and reap the benefits of interconnectivity.
- Prioritize the employee experience.
Developing a strong culture influences industry reputation and business performance. Attracting the most talented workers should be a strategic priority: executives must consider the causes that matter to employees and make sure these are reflected in processes and purpose.
- Share relevant data across functions—and beyond.
Making sure the right people have access to the right information drives efficiency and productivity. Working closely with vendors and outside partners will be critical to success.
As the market leader in business application software, SAP products help companies of all sizes and in all industries to perform at their best. They enable companies to operate in a profitable and customizable manner and continually adapt to its size and business. With a broad network of international customers, partners, employees, and leaders, SAP helps the business world run better and improve people's lives.
If you are interested in learning more about how to coordinate all areas of your company, contact us for a consultation so we can help you optimize your company's resources to generate better results.