CBI conference hot topic: disruption isn’t only for new players.
Last week, Nine Feet Tall attended the Confederation of British Industry Conference 2016. It was a day full of insightful debate and discussion, as well as a sign of the future political ambitions of both the Conservative and Labour parties, with speeches from Prime Minster Theresa May, and Leader of the Opposition Jeremy Corbyn. But if there was one thing that stood out from the day, it was that nothing was talked about more than the idea of ‘disruption’.
Disruption is the idea that a new or existing player in a market comes in and transforms the way in which that market is structured. Think Uber to taxis, Deliveroo to takeaway, or Buzzfeed to news. All of these companies have emerged to radically shake up the markets in which they operate, changing the rules on which the game is played and creating new and diverse ways to generate revenue. They threaten decades old industries and in some cases change the way we run our daily lives. Sometimes they seem blindingly obvious, and other times they are subtle and emerge under the radar. But in almost every case, they evolve rapidly and are quick to establish dominant positions, often without much opposition as incumbents struggle to adapt.
So if this is the case, how can disruption ever be considered a positive thing for existing businesses?
One important thing to note about disruption is that you don’t have to wait for a new player in the market to introduce it. Indeed, those that do often end up losing out significantly. Some of the best examples of disruption come from established firms, who pride themselves on innovation and staying relevant. Apple had been a major player in the technology sector, but they weren’t the first company to make a smartphone. Lidl were already a major player on the continent, and were not the first low-price supermarket. Yet in both cases, they have completely changed their sectors. Disruption can just as easily be introduced from an existing major player as it can a start-up, but it requires a certain ambition and culture that allows for innovation and entrepreneurship to flourish.
For us at Nine Feet Tall, we pride ourselves on enabling companies to implement programmes and projects that ensure disruption is not a risk, but an opportunity. We help to deliver not only the projects and change that ensures companies are insulated against disruptive businesses, but also help to deliver projects and change that are themselves disruptive. From helping a major high street retailer transform their workforce management process, to aiding a major international law firm in their transition to 21st Century working practices, we have been at the forefront of making companies better prepared for the future.
Our team of consultants have a wealth of experience and expertise to ensure that you maximise your potential. From delivering transformation and change projects from the get go, to coming in to ensure that the benefits of major projects are realised, Nine Feet Tall specialise in delivering change that sticks. To find out more about how we can help you prepare for the future, and get your critical projects on the move, drop us a message now, or give us a call.
