‘Digital’ has shaped the last two decades, reshaping business and consumers lives alike. Yet as ‘digital’ as the world has become, far too many organizations are drowning under the sheer volume of digital disruption they’re facing, with many struggling to get back to the surface.
Engulfed by technological change, businesses must be proactive. Speed is everything these days and failing fast is certainly a more attractive prospect than being reactive and standing still amongst your competitors.
The term digital disruption has been vandalized with negative connotations, and though it’s an unstoppable force, there are industry sectors which are benefiting from riding the digital wave. In a world where everything is touched by technology, businesses have never been posed with such enticing opportunities to reinvent themselves.
Take it Seriously
Digital disruption cannot be limited to just one area of a business. It shouldn’t be a topic of conversation purely for the IT department or the ‘digital team’, rather, it must be a conversation for the entire organization. Those playing catch up are the organizations who are set in their ways and opposed to any kind of change. This attitude needs to be abolished and replaced with an attitude that encourages innovation.
Think Fast, Act Faster
It’s vital for organizations to keep a close eye on trends in their industry sector, as well as keep an eye out for what their competitors are doing. This is a simple hygiene factor. Too many companies fall short because they remain far too insular, which results in them falling behind because they can’t catch up in such a fast-moving market.
Businesses need to always be innovating because the digital disruptors in every sector are becoming increasingly dominant. It’s time all businesses – irrespective of industry – took a proactive approach to digital disruption rather than viewing it as something to fear.
Digital has become an intrinsic part of our everyday lives, both as individuals and as a society. The convergence of digital technologies is accelerating far beyond Moore’s Law, paving the way for a The Fourth Industrial Revolution.
Old business models no longer apply. Instead, organizations need to adopt a robust digital business strategy that satisfies both their digital customers and the employees. Emerging digital technologies enable new business models which are more flexible and dynamic than the models they supplanted, delivering value to both businesses and consumers.
The Time to Act is Now
Digital is here to stay. Digital technologies and mindsets are disrupting the world in new and exciting ways every day, fueled by key disruptors like mobile, data, IoT, VR/AR and more. The meteoric rise in the adoption of mobile technologies is reshaping businesses and the way consumers live their lives, as such, it’s paramount that every business – no matter how big or small – takes whatever steps necessary to become a digital disruptor.