Digital Disruption is a Hot-Button Phrase Floating Around the Business World as of Late, But What Does it Mean?
Digital Disruption happens when the incumbent’s mainstream customers start taking up the start-up’s products or services in volume. Think Blockbuster and Netflix.
In a recently published article entitled, “What is Disruptive Innovation?”, author and expert, Rosamund Hutt, writes:
“The theory goes that a smaller company with fewer resources can unseat an established, successful business by targeting segments of the market that have been neglected by the incumbent, typically because it is focusing on more profitable areas. This type of start-up usually enters the market with new or innovative technologies that it uses to deliver products or services better suited to the incumbent’s overlooked customers – at a lower price. Then it moves steadily upmarket until it is delivering the performance that the established business’s mainstream customers expect, while keeping intact the advantages that drove its early success.”
So, what can you do as a business leader to keep pace?
The pace at which digital disruption is affecting businesses means that it is crucial to be able to scale up or down resources, adapting the work force to the businesses requirements. Project management as a service is supporting business to adopt digital innovation and modernise themselves in an expanding digital marketplace. With this model, businesses have access to digital teams with the required skills set, knowledge and experience to ensure expert execution of projects.
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