Since 2000 the term disruption has emerged and is now thrown around the industry like a common verb. Although disruption is occurring frequently, it is a term that is not understood and should be something that both individuals and organisations think about as the landscape is moving fast; large organisations that exist one day do not exist the next. Ray “R” Wang writes a fantastic book that explains the current state of disruption in digital business today. He argues that disruption is here to stay and that organisations must employ strategies to stay current and relevant.
For those that don’t know “R” Ray Wang, he is a leading industry analyst and founded Constellation Research. Over the years of working in the technology industry he has seen what has worked for various organisations and has developed a blueprint of what companies must do in the future to ensure their existence. For example he recommends that organisations must develop digital business models that are transformation focused, relevant, authentic, intention driven and networked.
My three key takeaways from the book:
1. Organisational DNA is the beginning of establishing a transformational mind-set and there are four types: Market leaders, fast followers, cautious adopters and laggards. Cautious adopters and laggards represent many of the 52 percent of the Fortune 500 who have been merged, acquired, gone bankrupt, and fallen off the list.
2. We are moving from an era of B2B and B2C to P2P
3. There are seven building blocks that define a digital artisan: authenticity, relevancy, transparency, intelligence, speed, analysis and non-conformism