Morgan Stanley, Pfizer turning to corporate Web 2.0 tools
Officials explain how employees use blogs, wikis and social networking to communicate
Computerworld - SAN FRANCISCO -- Morgan Stanley and Pfizer Inc. are among several companies launching initiatives to fold Web 2.0 tools like blogs, wikis and social networks into the enterprise after grass-roots projects convinced management to back such efforts.
Representatives from both companies detailed their projects Thursday at the Office 2.0 conference here.
Adam Carson, an associate at Morgan Stanley, started the investment bank's foray into Enterprise 2.0 late last year after a manager told him that there was no use for social networking tools in the business. He quickly set out to prove the manager wrong by compiling a network of 1,000 employees worldwide at the professional networking site LinkedIn.
Carson said he promoted Web 2.0 tools as a way to help transform how the company connects people, ideas and capital, one of Morgan Stanley's mantras. Today, he said, about 80 different Enterprise 2.0 projects are under way at the firm.
For example, Morgan Stanley is building social communities to communicate with clients and a system for automatically turning e-mail groups into online forums. The company also is experimenting with RSS and wikis, Carson said.
"[Enterprise 2.0] is not an 'if' anymore -- it is a 'when' and 'how' these things will come to the enterprise," Carson said. "The kids are starting to learn it in elementary school. If you can tap into the power of your company better than your competitors ... that is a competitive advantage. Are you going to wait until a NetFlix takes 30% to 40% of your market share before you realize something is going on with the Internet?"
Carson noted that 50% of Morgan Stanley's 55,000 employees are younger than 35 years old, the age group most experienced with Web 2.0 technologies.
He added that he began his Web 2.0 quest by working closely with the company's 10,000-member IT department. "Nothing gets done without the IT department," he noted.
Carson said he has also worked hard to make sure that security and permission features are built into every Web 2.0 tool that would be used companywide. Morgan Stanley is subject to intense regulatory requirements regarding security and archiving communications, he said. For example, employees in the company's investment group cannot communicate with equity research personnel, so social bookmarking restrictions must be in place to ensure that those employees are not tagging content for each other, he said.
In addition, Carson noted that while Morgan Stanley is mainly a Microsoft shop, it is looking to fill some of the vendor's Web 2.0 "gaps." Finding such tools can be difficult because the company must be sure that the mostly start-up vendors selling them can provide adequate support, he added,
- Six Ways Your Small Business Can Save with Internet Phone Service Traditional phone systems present two main problems for businesses: limited features and high costs. As a result, small businesses are migrating to Internet...
- Face Time Anytime Real-time communications facilitates team collaboration from nearly anywhere in the world. With facts and figures you can use to justify an investment
- Now is the time to implement a video conference solution Video conferencing is getting a lot of buzz lately due to the recent cost decrease, making it tangible for many law firms. It's...
- Video drives engagement Achieving maximum results means building a solid platform and network infrastructure. As digital age unfolds, it's clear that the ability to communicate effectively...
- LIVE EVENT: 5/7, The End of Data Protection As We Know It. Introducing a Next Generation Data Protection Architecture. Traditional backup is going away, but where does this leave end-users?
- On-demand webinar: "Mobility Mayhem: Balancing BYOD with Enterprise Security" Check out this on-demand webinar to hear Sophos senior security expert John Shier deep dive into how BYOD impacts your enterprise security strategy... All Web Apps White Papers | Webcasts