How Disruptors Have Rocked the Corporate World. For just over a decade now the digital age has dramatically altered and accelerated the pace of technological growth, innovations, user adaptability and the way information is shared. The world has seen massive growth in new technologies and businesses that’s pushing the boundaries of normal competition. In fact, some of these disruptors didn’t even exist too long ago. And while they’re still major market players, disruptors like Uber and Tesla (startups that didn’t exist 14 years ago) have crept in to alter people’s perception and needs from the automobile industry. Similarly, disruptors have rocked the communication industry as well. At the core of its decline was its inability to adapt and evolve quickly to changing consumer demands. Survival of the Agile Consumers today, are driving the market like never before. Basically, what drives organizations such as Google, Amazon and others like them is their Massive Transformative Purpose. What started as a free search engine is today a giant that has an arsenal of over 200 acquired companies and valued at US$139.04 billion!
For just over a decade now the digital age has dramatically altered and accelerated the pace of technological growth, innovations, user adaptability and the way information is shared. The world has seen massive growth in new technologies and businesses that’s pushing the boundaries of normal competition. The speed with which new technologies are being adopted by users, and how user needs constantly shift has dramatically rocked and disrupted incumbents. In a very short period of time many industries have been caught off-guard by competition that weren’t on the incumbents’ radar. In fact, some of these disruptors didn’t even exist too long ago.
The exponential change the world has experienced in the recent years has been so rapid that most organizations haven’t been able to cope with it. In the list of Fortune 500 companies of 1955, only 12% exist today. And that massive decline isn’t slowing down either. Today, startups are fast gaining traction and gaining larger market share, higher share prices and total equity than companies that have existed for half a century or more. You could say, it’s the golden age of disruptors!
Where These Disruptors Roam
In the automobile industry, GM, Ford, Toyota and VW have enjoyed a global stronghold for close to a century now. And while they’re still major market players, disruptors like Uber and Tesla (startups that didn’t exist 14 years ago) have crept in to alter people’s perception and needs from the automobile industry. Sure, Uber doesn’t manufacture vehicles, but it has altered the way people commute. And even if Tesla is producing cars for a niche market, it’s only a matter of time till it expands and eats into the market share of automotive giants. Plus, Tesla has been a major disruptor in shaping consumers’ perceived needs of their vehicles. It truly has gotten major automobile manufacturers scratching their heads.
Similarly, disruptors have rocked the communication industry as well. In 2013, Verizon CEO Lowell McAdam, stated “if you allow unlimited usage, you just run out of gas”. However, just last month Verizon, the largest wireless communications provider in USA, announced its unlimited data plan to fight off competitors and meet consumer demands. They had to give in. A decade ago, in 2007, Blackberry was at a high point with its…
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