Enterprises can gain from digital disruption if they can identify key trends, minimise losses from threats and build new value through smart investments. But this requires a capacity to act – or corporate agility.
Digital disruption - Short fuse, big bang? suggests that agile requires a willingness to make decisions and mobilise quickly. It’s about fostering an organisational culture that values innovation, including tolerating failures as teams try new approaches. The ability to allocate capital quickly and well is central to remaining competitive.
Leveraging business intelligence, data analytics and collaboration allows businesses to not only make better use of information, but can help organisations reduce risk and spot opportunities.
And digital disruption is so pervasive it deserves a place on the board agenda. Directors should ask how new technologies and trends are changing their businesses and markets and regularly assess the organisation’s capacity to respond.
Click one of the nine levers to assess your response to digital disruption.