The Reinvention Challenge

We have entered in next phase of disruption. As IBM Chairman recently said from here on we will see The Disrupteds turning into disruptors. The reasons are many and obvious. Especially in the industries where financial exposure and regulations are high, trust as well as scale still remains with larger, structured and regulated players.

Enterprise are trying to reinvent hard and using various approaches to do it quick. But they face more internal and upward challenges of sponsorship, collaboration and budgets. Major challenges are coming from the ability to develop a holistic plan with tangible outcomes on top or bottom-line to secure appropriate buy in and sponsorship to make it successful.

 On the other hand we have this critical data point that “Design driven companies outperformed S&P by 219% over 10 Years”

 It is becoming evident that Reinvention becomes successful if it is pivoted on tangible outcomes of customer success. With the age enterprises accumulate experience and culture. While experience becomes an asset culture can fall in both asset and liability sides and often eats strategy and any reinvention effort. In an era where almost all the businesses are facing existential threat such an effort failing due to cultural legacy and lack of impact becomes perfect recipe of disaster.

 Second component becomes speed and scale. If speed is too slow or scale is too small then outcomes take too much time or create too little impact, drive to reinvent vanishes. The era of long-term digital strategies and multi year plans of transformation is gone. In an attention economy where Idea to Minimum Viable Product time is reduced to days from months and years, speed becomes a critical success and competitive factor.

 The new triangle of success is Design (Customer success through experience lead strategy), Data (Use of Industry and Customer knowledge with appropriate use cases and Cognitive Capability) and Agility (Through Cloud, Automated process and collaborative approach of becoming a Platform). 

 While Design leads and provide consistency to Outcomes resulting in business success, Data deepens the impact (both on effectiveness and risk management) and Cloud helps on speed and scale. The Disrupteds have the scale and muscle to turn the table but time is running out quickly and we have more exciting times ahead.