Four ways to win in the age of disruption
Just remember many companies started and flourished during economic downturns. If your idea is good enough, you don't have to worry about the economy and just keep building and refining your product or service.
SIMILAR ARTICLES & IDEAS:
Certain companies in the automobile and technological sectors experience a paradigm shift once a while, where once-dominant companies are usurped by the next wave of startups.
When the end-users needs and problems are solved in fundamentally different ways, even companies that aren't a direct competitor to the old establishments pose a threat.
Generational Change is inevitable and no company can remain dominant for long.
When we look at the developments in the last 100 years, it can be said that today's technology may just be the beginning of bigger disruption in the future.
Companies like Apple and Google may just be the initial stepping stones, and technology will evolve further in unpredictable and unimaginable ways, impacting the next generation.
In the future, change is the only certainty.
Workers, employers, and education providers need to be agile, flexible and prepared to adapt as technology continues to interrupt industrie...
Until two decades ago, the general goal of colleges was for academic pursuits and teaching individuals to become more well-rounded. The general thought was that colleges were not vocational institutions.
Now, and possibly in the future, colleges will have to focus more on training and change their curriculum to meet the demands of employers.
A four-year college education remains the best choice for those who can get admitted to a selective university. But for everyone else, an alternative path might be the best way to go.
In the future, one training path will be company-sponsored apprenticeship programs to cover the skills missing between the secondary system and what employers are looking for.
Uncertainty is always there. The degree of uncertainty can rise and fall.
Leaders, being human, also have difficulty coping with uncertainty. When they receive confusing information, they te...
During periods of heightened uncertainty, leaders reflexively reduce investment, stop hiring, slash marketing, refrain from entering new markets, or stop making decisions.
Although understandable, acting in a pro-cyclical manner can be counterproductive. It can leave companies poorly positioned to benefit from the next stage of the cycle.
Organizations should be inclined toward action. As a baseline, companies must strive to be fit for growth. This can be done by aligning costs with priorities and strategy, investing in varied capabilities, and using traditional and digital levers to execute.
They must regularly engage in scenario planning with an array of options. They must build the capacity to be agile. They must learn to become more resilient to withstand strong external forces and quickly recover from setbacks.