Startups typically exist because there is a need that is not being met. Businesses either don’t listen to what is creating dissatisfaction from customers or are so wed to the current structure, system or process that it doesn’t move to address the need. Startups are not encumbered by the past. They don’t have prior investments weighing them down. They don’t have a massive change initiative to redirect focus. They just need to enter the market and move quickly.
What does that mean for companies that are being threatened by disruptive forces? Here are a few thoughts:
- Investment decisions should not be made on the basis of sunk costs. If you need to invest to innovate and compete, history should not weigh you down.
- Decision making should be rapid and effective
- The culture should be adaptive and innovative
How are you creating a culture in your organization that allows you to be agile and decisive? How are you looking for disruption in your industry?