Virtualization as a Success Factor

Ursula Drost and Edmund Hain, Managing Directors, Business Consulting Network International, December 2, 2009

The virtual Web 2.0 organization is a flexible structure with pliant and ever-changing connections between companies, suppliers and customers. Divisions, departments and workgroups within the organization are continually adjusted to meet changing needs. Virtualization consistently employs Web 2.0 technologies to reach previously unknown levels with entirely new business opportunities and workflows.

To make full use of the technical possibilities of the Web 2.0 era an organization’s employees must meet high standards of flexibility, reliability and responsibility. Virtual organizations also need an atmosphere of team spirit in which employees, suppliers and customers work together toward common goals.

Read more about the virtual 2.0 organization as an optimized value chain, success factors, and individuals in the virtual organization

Ursula Drost, Managing Director, Business Consulting Network International

The next generation of banking customers will no longer go to a teller window, meet with an account officer or visit a website to learn about a particular bank. Peer-to-peer networks, communities or blogs have a rapidly growing influence on customer decisions. New technologies (Web 2.0) influence the behavior of private banking customers while opening up new opportunities in corporate banking and within the organization. To win over these customers of the future, banks must reach out to them within their digital world.

Viewing the Web 2.0 tools as part of the value chain—for example, by allowing customers to contribute product recommendations or suggest improvements—is a win-win situation for both bank and customer.