In recent years, as the wave of startups has become more vibrant in many parts of the world, the term “disruption” or “disruptor” has emerged as a way to describe it. How startups challenge big and established players in the market .
Startups are challenging legacy businesses with new, innovative and more flexible business models.
However, what if the big businesses also “disrupt” themselves or in other words, instead of letting the fledgling startups challenge them, they create many possibilities for themselves. protected by constant innovation and creativity within the business itself.
According to data from the S&P 500 (list of large US businesses), in the late 1970s, to get on this list, the average “life expectancy” of businesses was 35, this number is now only is about 20.
This means businesses are growing faster more dynamic but it also
According to a survey from McKinsey, building new products, services or businesses based on new capabilities to drive (new) revenue is a top strategic priority for businesses, including up to 46% of businesses consider this as the top 3 strategies.
By 2027, leaders polled said they expect 29% of their business’ revenue to come from such efforts.
The largest share of current and future Museums and Art Galleries Email List investments will be in two areas: digital technologies, including artificial intelligence, Internet of Things (IoT), augmente reality (AR), and sustainability . steady . Regarding the concept of sustainability, McKinsey estimates green technologies could generate $12 trillion in revenue by 2030.
Research results also show that businesses that prioritize building new business activities have better and sustainable growth rates than other businesses.
For example surveye businesses estimate that new operations
From all this data, businesses can believe that, to continue to grow in the new context, to avoid the challenge of “disruptors”, they nee new business strategies, self-challenging. wake up and break yourself and more.
While large enterprises inherently have many get CMB Directory to advantages in finance, people, strategy or the ability to scale.
To succee in building new businesses with new capabilities that can help limit being challenged by startups, here are some strategies that businesses can refer to .
FIND THE RIGHT LEADER.
Good leaders can come from within or from outside the business. It is important for them to have the right mindset, business attitude and eagerness to learn. They also need to excel at collaborating, recruiting, and managing teams in uncertain economic times.
Leaders of the “new business” must be trustworthy within the existing organization but also need the ability to lead the team in different ways.