DIGITAL LEADERS INSIGHT SERIES - PART 1 - DIGITAL BUSINESS MODEL REINVENTION
The phenomenon of digital disruption and its transformative impact on the competitive landscape and established brands has gripped the media in the past few years.
76% rated some form of business model change as a high priority for achieving growth and competitive advantage
Revolutionary new entrants such as Uber, Apple and Netflix have burst onto the scene, seemingly out of nowhere, seizing market share and tearingapart industry rules and norms by establishingradical and disruptive new business models.
The extent of the wider impact of companies like Uber on the status quo is perhaps best exemplified by the addition of new descriptive words to our business lexicon such as ‘uberisation’ and ‘nestify’, words now routinely applied when wanting to signify dramatic change.
A current popular narrative in the business and tech press alike is the need for more established organisations to emulate this radical approach to business model change, and that the most effective response to digital disruption is in fact business model reinvention.