Thursday, November 18, 2010
Our fast-moving global economy requires organizations to adjust business models regularly. Today, business entrepreneurs and CEOs must embrace change in their vision and incorporate it as their 24/7 mission.
Disruptive innovation entails creating new values, as well as questioning the existing methodologies and approaches to conduct business (The IBM Global CEO Study, 2008). Change in the twenty-first century involves being competitive, incorporating best quality products, exercising best practices and providing excellent customer service (Kotter, 1996; The IBM Global CEO Study, 2008). Taking risks is important, as is learning from failures and adopting change in order to continue.
Disruptive innovation consists in doing business differently in a simple, accessible, affordable and customizable manner (Christensen, Johnson & Horn, 2009). Disruptive innovations can be catalysts for change, and may influence customer’s behavior. Such innovations create business growth while other incumbent companies find themselves trying to sustain current products and services.
As you will notice in the video Disruptive by nature, the enterprise of the future, CEOs know how rapidly the economy has changed. The way they conducted business before has become obsolete, especially in terms of reaching consumers. A disruptive innovation is crucial during this time. The more we approach consumers in simple ways and customize our products and services to their needs, the better chance to flourish.
Taking risks becomes necessary; and disruptive innovations provide viable alternatives when adjusting to the realities of the twenty-first century. Change is now a more predominant way of life. Embrace it, open your mind to new paradigms and incorporate disruptive innovation to your advantage!
Bibliography
Christensen, C., Johnson, C. & Horn, M. (2008). Disrupting class: How disruptive innovation will change the way the world learns. New York: McGraw-Hill.
Kotter, J. (1996). Leading change. Boston: Harvard Business School Press.
The IBM Global CEO Study. (2008). Disruptive by nature. The enterprise of the future. Retrieved November 13, 2010 from http://www.youtube.com/watch?v=JpfZP2dnhBs
Subscribe to:
Post Comments (Atom)
2 comments:
Max,
Having an open mindset is truly the "key" here. I have had multiple discussions with colleagues about disruptive innovations since beginning this class and overall many seem very excited about a mobile-technology initiative on our campus. My hope is that they will continue to have an open mind as we begin to implement some of the necessary structures to make this a reality. Thanks for the post!
- Calvin
The nature of a rapidly changing economy requires that we embrace change and learn how to make the best of it.
Post a Comment