Deloitte: Is social business the new trend in the Middle East?

28 September 2014 - 2014 Research report lately released by Deloitte and MIT Sloan Management Review reveals that nearly two thirds of surveyed companies globally find social business initiatives —including social media, social software and social networks—are positively impacting their business outcomes.

Based on a global survey of more than 4,800 business executives across 109 countries and 26 industries, the report, “Moving Beyond Marketing: Generating Social Business Value Across the Enterprise", found that the level of social business value companies achieve is related to their social business “maturity.” Nearly 80 percent of the surveyed companies analyze social data, and 67 percent integrate it into systems and processes to improve business decisions. 

“Maturing organizations in the Middle East are led by executives who believe in the potential of social business, agreeing that social business represents an opportunity to fundamentally change the way their organization works, and leave a positive impact on business outcomes,” explains Rana Ghandour Salhab, Talent and Communication Partner at Deloitte Middle East.

The Deloitte MIT Sloan Management Review report finds that respondents who rated their companies further along the social maturity scale were more likely to report their companies practice the following:

• Employ a leadership vision that social business can bring about fundamental changes: More than 90 percent of respondents say their leaders believe it can create powerful and positive change.
• Infuse social business into multiple functions across the enterprise: A total of 87 percent use social business to spur innovation.

Other study findings include:

• Social business is perceived as important both today and in the future. Seventy three percent of this year’s survey respondents say social business is important or somewhat important today. Nearly 90 percent see its importance on a three-year horizon.
• Social business is not just a B-to-C phenomenon. Nearly 60 percent of B-to-B companies agree or strongly agree that social business initiatives are positively impacting business outcomes. Among B-to-C respondents, the percentage is 68.

 “It is important to note that employees want to work for companies that excel at social business,” adds Salhab. “This is evidenced by the fact that more than half of the respondents answered that social business sophistication is at least somewhat important in their choice of employer.”

To view the whole report, go to: http://bit.ly/1kkC9BM

About MIT Sloan Management Review
A media company based at the MIT Sloan School of Management, MIT Sloan Management Review’s mission is to lead the conversation among research scholars, business executives and other thought leaders about advances in management practice that are transforming how people lead and innovate. MIT Sloan Management Review captures for thoughtful managers the creativity, excitement and opportunity generated by rapid organizational, technological and societal change.

About Deloitte

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities.  DTTL (also referred to as “Deloitte Global”) does not provide services to clients.  Please see www.deloitte.com/about for a more detailed description of DTTL and its member firms.   

Deloitte provides audit, tax, consulting, and financial advisory services to public and private clients spanning multiple industries. With a globally connected network of member firms in more than 150 countries and territories, Deloitte brings world-class capabilities and high-quality service to clients, delivering the insights they need to address their most complex business challenges. Deloitte’s more than 200,000 professionals are committed to becoming the standard of excellence.

About Deloitte & Touche (M.E.)

Deloitte & Touche (M.E.) is a member firm of Deloitte Touche Tohmatsu Limited (DTTL) and is the first Arab professional services firm established in the Middle East region with uninterrupted presence since 1926.

Deloitte is among the region’s leading professional services firms, providing audit, tax, consulting, and financial advisory services through 26 offices in 15 countries with more than 3,000 partners, directors and staff. It is a Tier 1 Tax advisor in the GCC region since 2010 (according to the International Tax Review World Tax Rankings). It has received numerous awards in the last few years which include Best Employer in the Middle East, best consulting firm, and the Middle East Training & Development Excellence Award by the Institute of Chartered Accountants in England and Wales (ICAEW).