Meeting the challenge of disruptive change – keep up, or fall behind
There are two types of change … two types of challenges. The first are everyday challenges faced when running a business – “little c’” challenges. Then there are the challenges associated with being in an industry that is undergoing disruption, discontinuity and upheaval – and that’s “Big C” – disruptive change.
In this modern age, progress is made at an alarming pace with new technology and new possibilities opening up every day. That progress in turn delivers change and change can be a wondrous thing. It can also be aggressive, ruthless and unforgiving.
Traditional tried and tested business models get thrown to the winds on a regular basis in this modern era where giant corporate behemoths can quickly succumb to nimble start ups with lower overheads and greater profit margins.
→ Read more: The fight against “showrooming”: Disruptive change forcing bricks and mortar to charge fees
Technology will not stop
Technology will not stop and is unlikely to slow down, and with every advance comes a change in consumer behavior.
Whilst the high street plugs away at an increasingly outmoded business model, online retailers are free to experiment with other aspects of the retail experience, with the introduction of customer provided product reviews, algorithms that can recommend related items to customers, discounts only possible due to the minimal overheads they have and pure digital-only products.
High street stores still get people through their doors for the express purposes of look at the physical products before they buy, but how long will it be before this stream of customers dries up too? How long will it be before consumers start getting semi-tangible holographic examples of products projected into their homes?
Short URL & title:
Keep up, or fall behind – The challenge of disruptive change — https://www.torbenrick.eu/t/r/qmp
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