The worst thing that companies and organizations can do is to adopt a mindset that digital disruption is the sole domain of the IT department.
Entrepreneur Ryan Mack, marketing executive of RM Marketing, said that the prevailing myth regarding disruption is that it pertains to digitization rather than a revolution.
“Stop thinking of digital disruption as merely a failure to apply technological innovation. It goes beyond that. Airbnb and Uber both disrupted the tourism and transportation industries by offering a new and convenient business model,” he said.
Digital disruption occurs when a new innovation or business model threatens to upend conventions.
He said that a study of organizations that managed to thrive in the face of the challenge was their ability to recognize the shifting trend in their respective industries. But recognition is only the first half of the equation, the most important thing is the willingness of the organization to change its core principles to avoid getting swallowed by the tide.
“Clearly, this goes beyond the IT department. It’s now the task of the management to rally the troops and make the necessary changes within the organization,” he added.
“But this won’t be easy. The organization must have the willingness to take the hit during the early stages and the resolve to continue its path,” he explained.
The good news is that digital disruption won’t really hit companies that failed to adapt until 2020, or at least that’s what the Microsoft and Harvard study titled, “Competing in 2020: winners and losers in the digital economy,” is claiming.
Mack said that instead of just waiting for the disruption to hit the organization, management should be more proactive in looking at its own processes and operations to be even more customer-centric. In order to do that, it should leverage technological and digital advances to find gaps and weakness.
“The natural progression is to move past digitization and into intelligence,” he said. “Companies should leverage on the merits of machine-learning and artificial intelligence. Their greater accuracy will provide unique insights into the behavior and thinking of the customers.”
“The insight will allow them to make better-informed decisions when they start to redesign their delivery and supply chains and business processes, all in the effort of improving customer experience,” Mack said. “All these, of course, is outside the purview of the IT department. Everybody should be on board, from upper management down to the last employee.”