When it comes to success stories in business, we often hear how the adoption of new technologies was the key to significant growth. The phrase ‘innovate or die’ can come across as quite harsh, but in today’s competitive business world, it does have some merit.
Over the last two decades, technology has completely changed the way we do business, seeing the collapse of some of the world’s most well known brands, and the rise of many that were not expected to succeed.
The phenomenon of digital disruption is not a new one!
Nonetheless the opportunities and risks it presents change over time and those who make the first move, history remembers them as innovators! Ever wondered how iPod replaced CDs, how Amazon defeated Barns and Nobles, why didn’t Marriot think of AirBnb, why cab drivers couldn’t come up with a brilliant idea that Uber did and how Netflix became the number one choice of Blockbuster’s long-time customers!
Businesses that are bold enough to innovate, serve as the poison pill for those that are still following the rules of the last century!
From the rise of digital, to beginning of internet era, to social media and now mobile, technology, every couple of years, digital seems to be disrupting every aspect of our lives and that too at an unprecedented pace.