That said, how we use words is important. And ‘disruptive innovation’, in popular usage, has come to express the core truth that it is important to be aware of and adapt to new ways of thinking and executing within your industry. Large groups have traditionally not been considered potentially disruptive, although such companies are often ripe for disruption.
A few years ago, giving a keynote address at the HPE Discover conference, venture capitalist John Chambers, best known as the former chief executive of Cisco, said that “40% to 50% of the Fortune 500 will not exist in a decade. Referring to the COVID-19 pandemic, he said, it was “going to be a brutal transformation and the horrific events we are seeing now will really accelerate it.” Probably 60% of startups will not exist in a decade. And many of them won’t be present in two to three years. So, this is a period where you are either interrupted or you are interrupted.”
You could argue that as a venture capitalist it is in Chambers’ best interest to ring the bell for wholesale change and disruption, for the replacement of the established by the new. However, he makes an important point – how committed can or should an established company, even a market leader, be to change? When do you recalculate the winning formula?
I believe the answer is that when you are at your peak as a business, you reevaluate a winning formula before complacency and self-congratulation creep into your actions. . The answer is for large, even huge, traditional businesses to deliberately create room for innovation and change. To ensure that there is a safe, protected space within organizations to explore ideas, ask difficult questions, consider bulk structural and philosophical questions, and take extended criticism. As a business, being able to introspect and question oneself is essential to anticipating disruption. If, as a business, you can get over the disruptions in your own model, you also have the tools to make connections that others won’t see and to expand as a business into adjacent areas. Will go away
A benefit for companies across industries with diverse groups is that there is no time to rest on one’s honor. One is always competing and looking for new ways to compete. Thus, disruption can become an effective business model even for established companies, i.e., if disruption is addressed by addressing deficiencies, detecting inefficiencies, exploring opportunities to provide services at more competitive prices, and reaching customers directly and The middleman is defined as a way to cut out. ,
However, disruptive innovation should not refer only, and narrowly, to business processes. In the early years of the twentieth century, modernists followed the poet Ezra Pound’s famous instruction to “make it new”, seeking to disrupt and reverse artistic and literary convention, reflecting new industrial technologies into new forms of cultural expression. For. ‘Make it. For ‘new’ revolution, is a cry for change – let’s reverse the old way of doing things in favor of a bolder, more decisive, more inclusive approach.
Such a change can also come from the establishment. For example, in India, the government has aligned itself with the slogan of a ‘new’ nation, a new national spirit, and ‘Make in India’. A key aspect of this ‘New India’ is the focus on economic development through building long neglected infrastructure, including digital infrastructure. This is a positive disruption in the lead up to the establishment of the day.
For example, how can we use artificial intelligence (AI), not to mention cognitive computing and cognitive analysis, to change the governance of healthcare, like, or education? A recent Deloitte study divided AI applications into three areas, chief of which are “insight applications” of AI, the way in which algorithms, data, and machine learning can be used to shape company policy. Is. We have access to more information than we ever have. The question we should keep on our toes is how we use that information. In a decade or so, social media’s transformation from a panacea for global communication to a harbinger of fake news and manipulation is proof enough that the effects of disruptive forces can be as negative as they are positive.
Forward-thinking businesses are asking how social media platforms and communication technology can be used to foster collaboration. For example, can corporations use their resources and logistical sophistication to aid social enterprise? Can that fund be made a progressive platform and connect entrepreneurs with social conscience? Instead of thinking of disruptive innovation only in terms of business theory, we should apply this concept to social upliftment. For example, in a positive sense, what could be more disruptive than visionaries who use technology to benefit disadvantaged, isolated populations? That said, even using the word ‘visionary’ may be out of step in this age of collaboration. It is not just individuals who are credited with disruptions and innovations, but an entire start-up culture of teamwork, knowledge sharing and open-source partnerships.
The great contemporary disruption that Indian businesses are competing with each other to launch is the introduction and widespread application of green technologies and energy. For example, investments in hydrogen fuel cell or solar power generation and distribution and grid capacity are, as a nation, a deliberate disruption of our reliance on fossil fuels. If it hurts the way we work, it is in service of creating a better, greener path forward – a future in which India can be a net energy exporter rather than an importer, free of cost due to global price fluctuations and geo-engineering. Can be vulnerable to political crises.
Positive disruption is the use of big data, technological innovations and new ideas to shock the system to make radical changes to prepare the ground for human progress. What else could be the matter? For businesses to make profits more efficiently? Certainly the latter has a very limited purpose. The impact of disruption is not felt by businesses – whether or not they fall by the wayside – but by people. Disruptive innovation is not just about ‘designing’ a custom experience for a new type of consumer, inspired and enthralled by a digital native almighty algorithm. Disruption should have a positive effect on society, be a catalyst, a means towards the goal of national development and progress.
If the message of the Disruption Principle is simply ‘with the old and with the new’, then it is a banquet. What is more exciting and arguably more important is how a business – or let’s think big, an entire country – responds to disruption. We cannot be defensive. Disruption is an invitation to rethink, rethink, reconnect, refresh and create anew. This approach requires openness, agility and considerable courage. The disruption is not in the rejoicing in the chaos or in the revolutionary thrill of destroying the establishment; It should be about progress and seeking improvement; It should be a rejection of complacency.
Disruptive innovation has generally been thought of in terms of technology and the existence of businesses. We should start thinking of it in terms of people and progress. Of course, the pandemic and the subsequent so-called ‘Great Resignation’ have been an extraordinary disruption in the way of business. Companies must now find new ways to accommodate the desires of employees so that they can more effectively align their work lives with their personal aspirations. As hybrid work models become inevitable, and employees spend more time on their own, away from physical interactions with their teams, office space will have to be re-imagined.
We are already moving towards flatter structures, more flexible hierarchies, but I believe that traditional Indian big businesses also need to accelerate this process. The typical Indian workplace already has teams that span multiple generations. As our population continues to dwindle, I believe we have to leave the hierarchy. Office space will need to be redesigned as spaces for teamwork and collaboration – not a knock on the door of the boss! Digital natives will rightly feel that in a knowledge-intensive, innovation-intensive economy they have a lot to say and need to make their voices heard quickly and without ceremony.
India’s changing dynamics and demographics coupled with advanced and advanced digital technologies means that we live in interesting and deeply disruptive times. We need to be able to keep up with the changes, take advantage of them so that India is in a position to reap the economic rewards of both the Green Revolution and the Fourth Industrial Revolution.
Karan Adani CEO, Adani Ports & SEZ Limited