Disruption - E2 Flashcards
What’s digital disruption?
When new digital technologies, services, capabilites and business models affect and change the value of the industrys existing services and goods
What is disruptive technology?
When technology is used to change and ‘disrupt’ the existing business model
What are the benfits of disruptive technology?
Contibutes to increased customer satisfaction
Helps business grow
Assists in evolving and improving the workplace
What are some examples of disruptive technology?
Cryptocurrencies - digital forms of money
Blockchain - Distributed database existing on multiple computers at the same time
What are the five emerging trends which business leaders should focus on in developing digital strategies?
Internet of me - users placed at centre through apps and services being personalised
Outcome economy - Increased ability to measure the outcome of the services we deliver
Platform revolution - Global platforms are becoming easier to establish and cheaper to run
Intelligent enterprise - Using data in a smart way enables organisations to become more innovative
Workforce reimagined - Human beings used in different way with greater use is made of smart machines
To take advantage of the move to digital what must the leadership team demonstrate?
Inspirational leadership
Competitive edge
Establishing a strategic direction
Influence external parties
Collaboration
Business judgement
Execution
Building talent
