What are the top drivers of change in your industry?

1 Innovation trends and foresight

One of the first steps to anticipate and adapt to change is to monitor the innovation trends and foresight in your industry and beyond. These are the signals of emerging opportunities, threats, and challenges that can affect your business model, products, services, and processes. By scanning the horizon for trends, you can spot the gaps, needs, and demands that your customers and stakeholders have or will have in the near future. You can also learn from the best practices, experiments, and failures of other innovators in your field or in adjacent domains.

2 Technology adoption and disruption

Another major driver of change is the pace and impact of technology adoption and disruption in your industry. Technology can enable new ways of creating, delivering, and capturing value, as well as challenge the existing ones. You need to be aware of the technologies that are transforming your industry, such as artificial intelligence, blockchain, biotechnology, or 3D printing, and how they affect your value proposition, customer experience, operations, and competitive advantage. You also need to assess your own technology readiness and capability, and how you can leverage or develop the tools and skills that can give you an edge.

4 Competition and collaboration

A fourth driver of change is the dynamics of competition and collaboration in your industry. Competition can come from new entrants, substitutes, or incumbents that offer better or cheaper solutions to your customers. You need to analyze your competitive landscape, identify your strengths and weaknesses, and find ways to differentiate yourself from your rivals. You also need to explore the potential of collaboration, both within and outside your industry, to create synergies, share resources, and access new markets. You can use strategies such as open innovation, ecosystems, and platforms to foster collaboration and innovation .

6 Culture and values

A sixth driver of change is the role of culture and values in your industry. Culture and values are the beliefs, norms, and practices that shape the behavior and identity of your industry and its members. You need to understand the culture and values of your industry, and how they affect your innovation, performance, and collaboration. You also need to challenge and change the culture and values of your industry, if they are outdated, rigid, or misaligned with your vision and mission. You can use techniques such as storytelling , gamification, and nudging to influence and transform the culture and values of your industry.