Profit from overlooked assets. For example, the Aravind Eye Hospital in India is one of the most effective cataract treatment centers in the world. Panic is contagious. Don’t look for cloud architects or blockchain specialists. When you combine technological acumen, strategic purpose, and an appreciation for customer experience in one group, it enables you to imagine products and services that you wouldn’t have thought of otherwise. As part of the digital disruption game, then, compare your new competitors’ interpretation with your own. Adobe Systems, for example, routinely consults with graphics professionals in designing new packages for them. Seek out these people at every level of the hierarchy, so they can make technological and design decisions on the fly that are in harmony with the larger business strategy. Although change and transformation is not a human phenomenon alone, on the contrary. All rights reserved. Product Line Leader, Repligen. In deciding how far to go, let the creation of value be your guide. Case studies on the application of digital twins and advanced process control will be highlighted. Price to drive demand. © Top Ten Disruptive Technology Trends Nat Burgess Thanks for that. Integrate, don’t isolate. And can you prepare your company to take up the slack? shared in knowing what is happening. Meet modern compliance: Using AI and data to manage business risk better, The urgent need for sophisticated leadership, Case for change: Ensuring equal opportunity digital access for global youth, A Guide to Winning the Digital Disruption Game, The Fear of Disruption Can Be More Damaging than Actual Disruption, 10 Principles for Leading the Next Industrial Revolution, Format Invasions: Surviving Business’s Least Understood Competitive Upheavals, strategy-business.com/10principlesdigitaldisruption, raised more than US$70 million in venture capital, combinations of people, knowledge, IT, tools, structures, and processes, refined and developed over time, Ten Steps to a Global Human Resources Strategy, Top shelf picks: Best Business Books 2020, Asset and wealth management revolution: The power to shape the future, Get your company in shape by redefining how people work, Also contributing to this article were the following people at PwC US: former global head of Strategy& Leslie H. Moeller; partner Mark Haller; principals Nicholas Hodson and Paul Leinwand; directors Namit Mehta, Martina Sangin, and Lina Woods; senior manager Miriam Ready; and senior associate Simon Jensen. Manufacturing. It is very much more consumer oriented and is as much about consumer interface as it is about transaction or supply chain management or flows of massive amounts of information. At the same time, you have to proceed deliberately and strategically, rather than frantically and reactively. Disruptive manufacturing The effects of 3D printing 1. When you set your prices low, you attract customers, scale up your new business model, and force changes that make it more difficult for rivals to compete. Marketing. When you first hear about a new digitally enabled competitor, you may tell yourself that company can’t succeed. But the relatively few companies that embrace digital technology successfully have used it as a catalyst for changing the way they operate. You are not looking for quick opportunities — you are plotting the new trajectory of your company. Seven secrets for addressing strategic risk . Investors are gauging your effectiveness based on their perceptions of the digital threat approaching your industry. But if you don’t start visibly taking steps to change that business model right away, it could affect your company’s market value. Labs. Not every disruption is driven by advances in technology, but this one is. Best Buy CEO Hubert Joly, for example, began to reshape the company’s digital identity by canvassing employees about their experience on the job. that is 1/7 ie 14% or more. many of todayâs pure digital plays have a lot to learn from traditional strategy. Digital manufacturing is an integrated approach to manufacturing that is centered around a computer system .