, United Kingdom (PressExposure) April 22, 2009 -- Business Wisdom invites CEOs to share with Times Online's business audience a challenge that their companies might face over the next few years. Each CEO will host a video message outlining the challenge on the bespoke Business Wisdom microsite, which is then broken down into a small number of specialist strands.
This month Sven Lung, CEO of online private sales website BrandAlley, has four smaller issues as part of an overall challenge to overcome: customer awareness, delivering goods in a timely fashion, developing an effective sizing conversion table, and convincing top brands to distribute surplus inventory through them. Times Online users, including business students and graduates, are encouraged to submit their suggested solutions - as well as vote on existing solutions - for a chance to win a Â£500 Selfridges voucher.
BrandAlley's challenge follows a successful first phase of the initiative which saw Times Online's business audience propose a number of solutions to a challenge on consumer apathy set by Peter Plumb, CEO of price comparison website MoneySupermarket.com."We've enjoyed the Business Wisdom project greatly," said Peter Plumb. "From setting the challenge to readers of The Times through to watching the solutions come in, it has been a fascinating experience."
"It is interesting to see how closely some of the solutions match our own thinking and there were some original new ideas too which we look forward to exploring." The Business Wisdom initiative marks a real-world manifestation of the theories outlined by Don Tapscott, an expert on the application of technology in business and author of Wikinomics. Mr Tapscott is also working as a consultant on the technical aspects of the campaign.
In the current challenging business climate, the Business Wisdom project will allow CEOs to tap into a global pool of knowledge, whilst allowing individual participants to showcase their skills to senior business leaders.
Tim Shorrocks, director of strategy and marketing, Cisco said: "In the current environment, collaboration can be one of the key elements of what it means to be a successful business. This partnership is based on the understanding that the wisdom of 'the crowd' is as important as the insight of 'the few', and that genuine innovation combined with community thinking can be just as productive as anything that originates from the traditional corporate arena." Hector Arthur, head of digital development, Times Online said: "This project will test the models underpinning theories of mass collaboration. It will stimulate the Times Online audience with multi-faceted content, while also offering readers the chance to participate and engage. I'm delighted that Cisco, a company with a distinguished track record in innovation, is the partner for the Business Wisdom project."