Menu
  • Your New Business Approach to Digital Disruption

Your New Business Approach to Digital Disruption

As businesses become increasingly aware of the need to embed digital in all aspects of what they do, it’s only natural they become nervous about futureproofing against ongoing digital disruption.

How can small businesses with few resources, or big businesses with weighty infrastructures and large teams not only invest in digital, but do so in a way that leaves them able to respond to ongoing change?

The truth is, it’s difficult to predict what’s next in digital with absolute certainty but what you can, and should do, is keep informed of the changes happening right now.

Your Digital Transformation Reading List

To that end, I want to talk this month about the latest digital transformation research by CapGemini.

CapGemini conducts important and interesting research into digital transformation and has done since 2011, when its first Digital Transformation Review was published.

What I particularly like about these reports is their timeliness, studying an enormous subject that is happening in real-time, across the world, affecting almost every industry. As such, these reviews are great reading material for anyone concerned about the impact of digital transformation on their business.

This month has seen the publication of the seventh report in the series, ‘Strategies for the Age of Digital Disruption’.

Responding Strategically to Digital Disruption

The latest review focuses on how businesses and organisations can respond to digital at a strategic level. I feel this report to be one of the most useful yet - my conversations with executives reveal that this is where the challenges of digital are most evident, and yet it’s imperative that digital transformation is led from this level.

It’s clear to me that digital disruption is the cause and digital transformation the outcome, so it’s crucial to get a handle on the wider context of digital disruption before you can begin to develop a strategic response.

There are a number of useful insights in the report I want to highlight.

  • Companies should pay attention to any gaps that startup businesses have identified. Is there a pain point for your customers you either haven’t identified or haven’t been able to address yet? If so, you’re vulnerable to disruption.
  • Despite the salacious ‘Innovate or Die’, headlines, disruption is something that actually happens over a period of time. Indicators exist but most companies are too focused on day-to-day operations to see them.
  • Despite technology being a key disruptor, most reported difficulties with responding to digital tended to be based around politics and resource, rather than systems. This is important - your people are central to the success of any digital transformation.
  • Other common barriers in responding to digital disruption include slow decision-making and complacency around existing business models.

“Digital disruptions are a fact of economic life in the twenty-first century”

For me, this summarises everything that is pertinent about digital transformation. Not engaging with the disruptions in your industry is not an option, but to respond strategically, you must be informed, aware and most of all, prepared to change.

Best wishes,

Richard

Discerning Digital is one of the UK’s first dedicated digital transformation consultancies, specialising in helping businesses unlock their online potential.