Wednesday, May 21, 2008

Recession Proof Enterprise 2.0?

Recent Fed projections indicate slower growth and higher unemployment ahead. Unemployment is expected to peak to 5.3%, highest since March 2005. Does this mean obscure times ahead for IT professionals enamored of enterprise value from Web 2.0 innovations? Not necessarily. Data indicates that while some job sectors continue to feel the heat from the slowdown, IT sector is expected to sustain continued growth. According to a Gartner survey, more than half of participant companies plan to increase their IT budget in 2008. Furthermore, James Cooper in his Business Week column points that the Services sector continues to add new jobs while the overall employment rate continue to recede.

Source: Business Week

OK, why spend money on IT in a slow economy? The current unprecedented economic and business challenges mandate Enterprise 2.0 trajectory to reduce cost, motivate employees and create customer delight. Based on a McKinsey survey, Web Services (SOA) and Collaboration related Web 2.0 technologies top the list of executives in leading the business transformation efforts.

Source: McKinsey Quarterly

These business drivers mean exhilarating upcoming opportunities for IT professional with these Web 2.0 skills. So, get ready to enjoy the ride.

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