Technology today is reshaping the industries and their business models. Amazon and Netflix have been the first few pioneers that championed digital disruption by challenging the dominant brick & mortars stores. Companies like Airbnb & Uber have already redefined the multi trillion dollar hospitality & transportation industry.
Digital disruption originates from a transformed or a new company. There have been only a handful of companies that have challenged their own business models to bring in disruption and transformation. Companies preparing for transformations require organizational restructuring and cultural shift. Digital disruption also creates new opportunity for people who are embracing these changes.
Many executives have started bringing in transformation within their organizations, but the culture within the companies may still not be ready to challenge their own legacy business models. Organizations that have still not realized these threats may someday wake-up to a new reality, from a technology company that is somewhere working in its garage with the new disruption.
Is your organization ready to disrupt it’s own legacy business model ?
Author: Jasbir Sandhu