I come from a culture where survival of the fittest is the mantra you are taught DAY 1. The fight to make something out of life to ensure you are well respected in society, have enough money as security to offer your kids a good education and lifestyle.I have seen many around me, live their lives in just making sure that they are fulfilling what has expected out of them whether it comes to job or family. One who has been able to break this chain reaction have offered back the society something innovative, but they paid the price through either living below standards or never got recognised while alive.
WHAT IS DIGITAL DISRUPTION?
“Digital disruption is a transformation that is caused by emerging digital technologies and business models. These innovative new technologies and models can impact the value of existing products and services offered in the industry. This is why the term disruption is used, as the emergence of these new digital products/services/businesses disrupts the current market and causes the need for re-evaluation.”
FEAR OR COMFORT
I have seen the similar pattern in Enterprises, to please investors they have the strategy towards innovation and building the digital roadmap. The senior management needs to select right people to be designing the digital strategy, may be that requires sending senior leaders to go back to school and understand how today’s generation interact and live their life before they can vision on how to shape their industry strategy.
“WHY WORD “DISRUPTION” IS USED WITH DIGITAL.”
I have pondered when it is about innovation and adopting new technology then why DISRUPTION is connected with it. It took me a long to put 2 to 2 together.
IRONY OF SITUATION
No wonder the people in charge to lead Digital Transformation have never lived a digital life, some of them do not have a social media presence, hence they do not understand the collaboration benefit and operations.
A senior industry leader, made a prediction of 40% will not survive in 10 years. We should not take this as a joke as we can see it is already started happening. We have already seen the success of AirBnB & Uber but they are many more already making a difference.
AIRBNB Vs MARRIOT : It seems AIRBNB IS VALUED more than Marriots with estimation of $21Billion
AIRBNB’s revenue is higher than any hotel chain, without owning a single property or overheads.
$1.7 Billion revenue 2016
Hands of businessman using digital tablet with newspaper and cup of coffee near by
UBER – A FIRST WORLDWIDE TAXI service again with no car fleet owned by them.
$1.5 BILLION revenue. (2015)
If this comes at a surprise for you then its time to give a reality check to your business. This is just a start of a new era.
Every hour there is new startup in the world ready to take over established company. Choice is yours to remain comfortable to be uncomfortable tomorrow !!