16 Jul 2015 / By Vanessa Gavan
The need for organisations to respond to a dynamic marketplace is nothing new — there is always a legal, regulatory, financial, or competitive challenge to deal with. The difference today is the depth and frequency of the changes.
Whole industries are making fundamental shifts in response to a perfect storm of technology, demographics, and economics. Multiple new players such as Airbnb, Uber, Amazon, and Net ix have seized market share and permanently changed the competitive landscape in their sectors. More disruptors emerge every week.
Nowadays, every industry is fair game for a major shake-up. The latest research from PwC reports that the majority of CEOs expect to be entering new sectors over the next three years.
The new entrants are successful because they are extremely agile. They sense established players are ignoring a customer need— tailor a solution to match the corresponding gap in the market and launch it quickly. The opportunity is there for anyone to exploit, but established companies either underestimate its importance or are too slow, complacent, or scared to act.
By missing these opportunities, they are putting their bottom lines, employees, and shareholders at risk…