Digital disruption – what’s all the fuss about?
Digital disruption is currently been thrown about as the latest buzz words but has anyone done any systemising research about this issue and what it actually means for organsations? Cisco has! We interviewed 1,000 executive customers in 12 industries, across 13 countries about this phenomenon. Findings from the top 100 disruptive companies revealed what their model is for digital disruption and how they have stayed ahead of the competition.
On the 8th February 2017, we had the pleasure of hosting 20 of our Cisco Enterprise customers at IDEALondon Innovation Center, our incubator and accelerator start up hub, to discuss the dynamics of digital disruption. Watch this 2 minute clip on what some of our customers had to say: https://youtu.be/wLblSUju3cc
With an engaging and tentative audience our on-hand Cisco experts explored the digital vortex metaphor and asked what problems our customers are facing today and how can a digital solution solve for it?
Nodding heads and note-taking attendees listened to James Macaulay, Director, Cisco Digitisation Office talk about the competitive dynamics of digital disruption.
Its not just all theory – take examples like Amazon, Uber, FaceBook, WhatsApp. What strategies have they used and can their ‘secret sauce’ be replicated? Yes – Jeff Loucks, Director, Cisco Digitisation Office explored the strategies that Cisco has developed in order to help our customers become disrupters in their field, and combat some of the threats that digital disruption is causing (Digital Response Strategy Playbook section in the Digital Vortex book).
Take McLaren racing from pit stops to production lines – using sensors and data management systems, allowing them to move into healthcare and pharmaceutical industry.
Another good example is Netflix – disrupting themselves from mailing DVDs to consumers to online streaming. They displaced organisations like Blockbusters and are now battling with Amazon, Sky and alike to win the space of online streaming content.
It’s a tough environment right…how can you develop digital business agility? Organisations are struggling to react to digital disruption due to legacy business and frameworks. Its all about moving quickly and being agile. Change is coming but there is a lack of understanding on how to tackle it. It takes time to understand as it’s often a cultural, org structure and process change – it’s a big challenge!
At IDEALondon, and throughout the rest of Cisco’s Innovation Centres across the world, we help your business to find creative solutions to help transform your business. Let Cisco guide you through your digital vortex. Visit our Digital Transformation page for further information.