JULY 20229MITIGATING THE CHALLENGES OF DISRUPTIVE CHANGEProcesses mean the patterns of interaction, coordination, communication, and decision-making employees use to transform resources into products and services of greater worthfor evaluating the technology's potential for sustaining innovations and assessing their customer's needs for an alternative. Investment in maintaining technologies also fits in with the values of leading companies in that they promise higher margins from better products sold to leading-edge customers.Disruptive innovations occur so intermittently that no company has a routine process for handling them. Furthermore, disruptive products always promise lower profit margins per unit sold and are not attractive to the company's best customers; they're inconsistent with the established company values. Therefore, large companies often surrender emerging growth markets because smaller, disruptive companies are more capable of pursuing them. Their importance can embrace small markets, and their cost structures can accommodate low margins. Their market research and resource allocation processes allow managers to modify decisions that need not be backed by careful research and analysis. All these advantages add up to the ability to embrace and even initiate disruptive change.The Ways & Means of Disruptive ChangesDealing with disruptive change is a process that needs to be done correctly. It starts with identifying the nature of the challenge. After accepting the challenge, there should be passion and aspiration to deal with it. Knowing what the future holds comes from a good analysis of the market and the enterprise. Another way of dealing with it is by exploring the possibilities. Consider past and present trends and make future possibilities that the company needs to be prepared to face when that time comes. After identifying the opportunities, mobilize all members' commitment and be ready to implement the required changes. With the ever-changing face of different industries, it is clear that disruptive change is inevitable. For the success of every business, the management should ensure that they can identify disruptive change indicators as early as possible and be prepared to deal with them in a way that brings as little disruption as possible.This challenge of disruptive change can impact many companies, and its effects depend on the companies and suffers lower performances initially in the mainstream market. How well they deal with the change and adapt to it. Some businesses get swallowed in during the process, while others emerge big. After all, the consequences of a change depend entirely upon how people decide to take it. Some people try to ignore the situation and decide to do nothing about it, while others play smart and minimize the disruption a change has caused by adopting it as quickly as possible. Dealing with a disruptive change is not as hard as it may seem. You need to have proper market analysis and the enterprise's analysis as a whole. As a business manager, you need to understand the market trend and the nature of the challenge. The next step is accepting the challenge and exploring new possibilities. Lastly, technological changes have quickly created spaces that need to be filled with changes in the affected areas. Businesses have to be run smoothly, meaning they should be able to cope with the needs of their customers. Meeting the challenge of disruptive change requires the effort of all the members involved to tackle it collectively.
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