An #Innovation Amateur's Opinion: The Innovator's Handbook 2022 – "The Myths of Disruption: How Established Firms are Adapting to the Digital Age"

Textbook Compilation: Innov8rs

Chapter Authorship: Julian Birkinshaw, Professor of Strategy and Entrepreneurship at London Business School

Over the years, the idea of innovation has revolutionized from the literal term interpretation to broader conceptual application. Innovation evolvement is a derivative of numerous contributing influences, from philosophical shifts in the cultural understanding towards tactical advances within technological capabilities. As the world perpetually redefines what it means to innovate, the notion of how one innovates is simultaneously taking on a new meaning. Despite the accumulative metamorphic affluence, two associative connotations have remained consistent: the negative association with disorder and the positive relationship with sustainability.

When asked, "How Established Firms are Adapting to the Digital Age," author Julian Birkinshaw utilized a scientific method to devoid the emotive stereotypes, absolve unconscious bias, and formulate evidence-based conclusions. To answer this question, Birkinshaw resolved with the following order of operations:

1.????Demystify disruption theory – outline the myths and realities associated with the pursuit of clarity.

Over time, the concept has triggered multiple misleading assumptions and unsubstantiated opinions, which inflate and exaggerate the gravity of its risk. The first myth is that disruption is industry agnostic and experienced universally; the reality is that only three industries have experienced devastation, while the rest remain consistent and stable. The second myth is that disruption occurs rapidly; realistically, the trending frequency and periodic cadence are constant and systematic. The third myth is the difficulty firms encounter during the adaption phase, which is a misrepresentation of facts to date.

2.????Anticipate disruptive technologies – compose a strategic playbook with tactical responses to potential threats.

Firms have devised a vast portfolio of potential responses to incorporate or leverage, pending the scenario at hand throughout the years. Among the endless response alternatives, the approach trajectory can either be direct, attacking the competitive disrupters with unmediated efforts, or indirect, focusing on core competencies to combat market share. The calculation is a subjective exercise with success metrics available following the implementation or execution, leveraging guidance and best practices from retrospective case studies.

Conclusion...

Back to the original question Birkinshaw raised, "How are established firms adapting to the digital age?" Firms with exemplary use cases develop a unifying framework, including methodology, philosophy, rhetoric, and peripheral elements necessary to comprise a corporate prospectus. Once the principles are concrete, leadership can delegate role-based or responsibility-centric responsibilities to prioritize proactivity across the entire organization. It is crucial to keep in mind that while sensationalism plagues topic-relevant news stories, the thriving majority adheres to the fundamentals mentioned above to dedramatize disruptors while evangelizing sustainability.?