21/05/2016
Believe me it's just began..... getting real
...it is time to get back to the Boardroom – drawing board.
Continuous innovation will guarantee growth, value creation and higher profit margins long into the future.
Statistics show that stiff competition is not coming from players in the industry but without and therefore it is an area that requires a lot of reflection. Company bosses should therefore be ready, such that as and when disruption occurs, their businesses are not paralysed.
And here “Disruption” is the situation where smaller companies with fewer resources successfully challenge established incumbent businesses...and the word itself just says it better, half the time disruption is very difficult to predict because it hits when least expected and from the least expected quarters too.
What this tells us, is that Innovation should be applied at the production stage and on to the products and services and to marketing and customer service functions.
If you and I have been keenly following technology trends recently, we should have realized that some of the most remarkable industry disruptions have occurred already, especially in the transport, media and education sectors.
For instance, Social networking sites like Whatsup, Facebook and Twitter are threatening revenues of mobile operators, media companies and courier firms. Newspaper companies have also had to employ digital technologies to capture online readers. E-commerce sites have also changed the face of retail as tech savvy Kenyans opt to shop online.
Uber, the much-feted transportation company whose mobile application connects consumers who need taxi services with drivers who are willing to provide them has enjoyed rapid growth in Kenya transforming the taxi business.
It is realest guys!...it is time to get back to the Boardroom – drawing board.