Watch & catch: follow the market and strike

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Responding to digital disruption
The findings of Schumpeter and Christensen are still relevant today. Even now, traditionally organized companies are often blind to the potential of digital innovation. They are averse to the 'lean and mean' development methods with which small start-ups from dilapidated business premises appear to respond better to the unspoken needs in the market. And that is a missed opportunity, because it is precisely the successful companies of today that have much more resources to innovate than the newcomers. After all, they already have access to the market, have the necessary financial resources, relevant knowledge and experience.

There are several ways to escape the fate of digital disruption. Below I describe four strategies for existing organizations to successfully anticipate digital disruption.


Internal innovation: mobilize internal digital innovation power
Greenfield: create an autonomous unit for digital innovation
Innovation as a basic strategy: continuous innovation at the heart of the organization
digital disruption strategies
1. Watch & catch
The first step to survival is to recognize early the signals of radical change. This can be anything: market imbalance, high margins, extreme luxury, an unspoken need of a customer, an interesting technical innovation, a first idea from a start-up or a best practice from a completely different market. All these elements are breeding ground for digital disruption.

The signals for this rarely come from within your own organization. Involve outsiders in your strategy formation, such as trend watchers, industry bloggers or a critical customer. Take off your blinkers south korea phone data and regularly let people with a different opinion hold up a mirror to you. Once you have discovered a potential disruptor in the market, strike in time. Develop an improved version of the digital innovation or take over the party.

The disadvantage of the watch & catch strategy is that it is very difficult to determine which initiative is worth investing in. Timing plays a major role. If you are too early, you can smother the idea. If you are too late, the disruptor is already too successful.

2. Internal innovation
In addition to closely monitoring the market, there are a range of possibilities to develop disruptive ideas within the organization. Many organizations do this by putting together innovation teams from representatives of different business units, fueled by a single fanatic who has been specially freed up for this purpose. This allows you to develop new ideas freely, without having to immediately take into account the interests of your own business unit.