With the rapid development in technology in recent years, many business are being disrupted. How to disrupt the disruptors? Leading Futurist Robert Tucker, shares his insights in his recent article. Here are the first two ways:
(1) Understand the nature of disruption in your market.
To understand the nature and pace of disruption, look at the exponential rate of technological advancement. When the term “disruption” first entered the business lexicon in the late 90s, the phenomenon was confined to the disk drive industry and a few others. Today, it’s an ever-growing threat to virtually every industry. Banks and bookstores and brick and mortar retailers of all stripes are endangered. Already in 2016, the shift to online shopping has decimated big box retailer Sports Authority and regional chains across America. The college textbook industry has essentially stopped acquiring new titles, and laid off thousands of editorial employees. Moore’s Law predicted a doubling in storage and processing capacity every two years, and that’s what’s occurred. Combine Moore’s Law with the enabling power of The Cloud, and the entrepreneurial zeal of Collison brothers around the world looking to make their mark, and you get a glimpse of what is to come over the next three to five years. And what you must do to prepare.
(2) Understand what’s really going on with your value proposition.
In my work across industries, I regularly see numerous forces and factors triggering dislocation, not just technological. Among them: lifestyle changes, demographic shifts, and new regulations, to name only a few. Scientific breakthroughs can be triggers. Dentists are having a hard time because better preventive measures (fluoride, for example) means people are getting fewer cavities so there’s less drilling and filling to do. Consumers are drinking 36 percent less fluid milk, as an array of alternative beverages such as almond and soy milk, become available. More and more Americans are opting for cremation, disrupting the traditional funeral industry in the process. People are writing fewer and fewer letters, and the envelope industry is idled. Who will need auto insurance when driverless cars arrive? The age of disruption demands that we develop a closer understanding of what’s producing value for our customers, and how today’s value proposition might be obsoleted by new offerings that give customers greater choices.
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Robert Tucker is president of The Innovation Resource (TIR), and an internationally recognized leader in the field of innovation. Formerly an adjunct professor at the University of California, Los Angeles, Robert has been a consultant and keynote speaker since 1986.
His pioneering research in interviewing over 50 leading innovators was published in the book Winning the Innovation Game in l986. Since then, he has continued to publish widely on the subject, including his international bestseller Managing the Future: 10 Driving Forces of Change for the New Century, which has been translated into 13 languages. In Driving Growth Through Innovation he identified the emerging best practices of 23 innovation vanguard companies. And in his latest work, Innovation Is Everybody’s Business, Robert interviewed 43 innovation-adept individuals from multiple industries and all levels of organizations, and teaches the personal skills necessary to become an innovator in this hyper-competitive world.
As one of the thought leaders in the growing Innovation Movement, Tucker is a frequent contributor to publications such as the Journal of Business Strategy, Strategy & Leadership, and Harvard Management Update. He has appeared on PBS, CBS News, and was a featured guest on the CNBC series The Business of Innovation.
The Innovation Resource, based in Santa Barbara, California, is a consulting firm devoted exclusively to assisting companies seeking to improve top and bottom line performance via systematic innovation.
Robert is a much sought after keynote speaker at conventions, company management meetings, and industry conferences. Clients include over 200 of the Fortune 500 companies as well as clients in Europe, the Americas, Asia-Pacific, and Australia.
Robert’s speaking topics:
- Thinking Ahead of the Curve
- Driving Growth Through Innovation: How Leading Firms Are Transforming Their Futures.
- Innovation is Everybody’s Business
- Innovation Boot Camp: Strategies, Tools & Techniques for Breakthrough Results
- The Intelligent Talk Show