For many businesses, the first challenge is to understand the nature of the disruption, overcome ‘action paralysis’ and explore potential approaches for your business.
Each stage of disruption represents a step on the journey to growth where there is an opportunity for organisations to take a lead. Click through each of these sections below to understand more.
The first challenge for many businesses is to understand the nature of disruption: the likelihood and scale of potential impacts, and the timescales in which these may occur.
In some cases, the level of uncertainty and lack of tangible options may lead to action paralysis, as organisations wait for others to make the first move. In other cases, even if the scale of the threat or opportunity is understood, it can take time to create alignment across the organisation.
Whilst these delays may represent a significant risk, approaches can be taken to mitigate this. For example, an organisation could identify the key leading indicators of disruption and determine when corrective action needs to be taken.
A more proactive approach can be seen in the rise of corporate venture capital in the mobility sector. Resources are being devoted to small-scale pilots or ventures to test new ideas and act as potential platforms for future growth.
This may also require a rethink of governance to ensure that decisions can be made quickly to react to changes in the market.
Key questions you may ask:
Conduct basic market research to better understand the existing market and the underlying technologies.
Analyse the competition to assess what players in your market and adjacent markets are doing to identify successful strategies and current and future threats.
Conduct impact assessments to see how a given scenario of disruption might impact different areas of your business and identify where action might need to be taken to mitigate future risks.
Identify leading indicators of disruption and implement a monitoring and response plan to know when to react.
Undertake exploratory investments to better understand a new or disruptive industry segment through direct participation.
Create partnerships with organisations that have access to leading insights to conduct joint research and explore the disruption.
Develop a future market participation strategy that exploits both your existing strengths and where the future value is likely to lie. This could involve forecasting future value pool shifts in the market and identifying which combinations can be addressed by your future strategies.
Platforms & partnerships