This article is an extract from http://www.bizcommunity.com/Article/196/640/161554.html
#FIDIC_GAMA2017: Adapt or get left behind
It’s a matter of disrupt or be disrupted, she emphasised, as innovative competitors have the potential to oust even well-established businesses.
“The acceleration of innovation and the velocity behind disruption is very hard to anticipate,” she explained, but “the most surprising thing about disruption is that almost all successful attacks originate from industries that formerly had nothing to do with the business sector that they are now revolutionising.” Ramchund used the well-known examples of Skype, Alibaba, Uber and Airbnb as disruptors that emanated from outside the industries in which they now operate.
She highlighted a lack of innovation and effective leadership as the main drivers behind the downfall of some once globally established brands, including Kodak, Blockbuster Video, and Xerox, all of which resisted change.