Customer opinion: The theorized phenomenon of disruption is defined as a process by which a product, a service or a solution disrupts the rules of an already established market.
The disruptions are not new, and historically repeated patterns of massive disruption have occurred on a regular basis. Today’s digital revolution is like the great phases of the upheavals of the past, such as the agricultural revolution and the development of canals and railways. Technological advances, together with the globalization of trade and demographic changes, are helping to diffuse these revolutions in all sectors of the economy.
Austrian economist Joseph Schumpeter identified the theory of creative destruction in 1942. He described the deliberate dismantling of long-standing practices to make room for innovation and improved methods of production. He observed Henry Ford’s assembly line as a real example of creative destruction, of fluctuating dynamics constantly reshaped or replaced by increasing innovation and competitive circumnavigation.
History also shows that when transformational technology emerges, it comes with an incredible surge of associated energy. This energy creates a tsunami effect, stimulating change, driven by original thinking and flawless vision.
This energy is now leading to rethinking the key values ââof professional service organizations: customers; competetion; The data; and innovative vision remodeling.
Â· Clients: Thinking must be laser-centric, treat customers as key influencers, create an omnichannel experience reflecting the evolution of their demands.
Â· Competetion: Traditionally, competitors mirrored each other’s organizations, but this is no longer the case. For example, Tesla was first an energy company, then an automobile manufacturer, and now a visionary in space travel. Coopetition (competitive cooperation) occurs more often and is even an essential part of many business partnerships.
Â· Data: An organization without full control or ownership of all of its metadata devalues ââone of its key strategic assets. Failure to fully unlock or create a full 360-degree representation of customer knowledge and strategic value can cost business opportunities and tarnish the company’s competitive edge.
The continuous evolution of the value proposition is essential for every business. Defending businesses with barriers to entry is now seen as almost futile. The key is to communicate with clients, know their vision and associated demands, and support the alignment of new proposals to become a trusted advisor / partner for tomorrow. This will allow businesses to create experiences that drive customer demand while stimulating the entire organization to share this new stimulus.
If companies can harness this energy and refocus on better ways to organize and deploy responsive business processes, they can use disruptive energy as a catalyst for success.
There are three focal points for the energetic resurgence:
Energize and grow teams with the right skills and establish a culture of empowerment to embrace disruptive change and use it as a stepping stone to success.
Examine the responsiveness and efficiency of business processes. Focus on shared business intelligence and introduce intelligent approval channels and information flows to improve communications, compliance, and governance.
Let people and processes operate seamlessly as a single core, establishing an infrastructure that eliminates wasted time, optimizes resources, and allows people to work efficiently.
People still tend to think of a tough economy as a sign of a new normal and, conversely, that a strong global economy will last forever. But, as history has shown, economic conditions always alternate and technological revolutions (disruptions) are part of the economic fabric.
At the heart of this trend is the fact that today’s disruptors will surely become tomorrow’s disruptors. The process invariably results in losers and winners. Entrepreneurs and workers of new technologies will inevitably create imbalances and highlight new opportunities for profit. Producers and workers engaged in older technology will be left behind.
The process is nonetheless irreversible. Disruptions do occur, so businesses must embrace and manage them to remain viable and competitive.
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