Executive Consulting Recommendations

Abstract

The purpose of this report is to provide the Acme with Executive Consulting’s recommendations on the type of social media that will allow them to build community in globally distributed multi-cultural teams, and will also serve as a source of competitive advantage in attracting and retaining top talent in their organization. This report will include a recommendation of implementing videoconferencing technology, followed by a discussion and analysis of benefits and costs, talent recruitment and retention, online community building, human dimensions of change management, and finally concluding statements.

Introduction and Social Media Recommendation

Executive Consulting recommends that the Acme implement videoconferencing technology to allow for the facilitation of global communication and interaction. In addition, we believe the implementation of videoconferencing will also be a major asset in creating successful globally distributed, multi-cultural work teams as well as be a valuable tool for attracting and retaining top talent within the industry. While the initial investment in equipment will be somewhat expensive, the costs will be regained quickly. Virtual face-to-face meetings will reduce the high cost of travel expenses that the organization spends each year. It is estimated that videoconferencing will cut travel expenses by two-thirds and with those expenses significantly reduced, it would free up funds, which could be used for other projects or organizational needs, such as recruitment and retention (Yu, 2009).

Benefits and Costs

Executive consulting believes the implementation of videoconferencing will be a great investment for Acme because this technology will allow for the development of global, multi-cultural partnerships that might otherwise be limited given time and money restraints.