Disruptive Technologies: A Business Threat or Opportunity?
“April 13th, 2000. The day the music industry and the internet became best frenemies forever.
That’s the day Metallica v. Napster, Inc. was filed in the United States District Court for the Northern District of California — a case that would come to national prominence, pave the way for Steve Jobs and Apple to create the iTunes and iPod juggernaut, and ultimately lock the tech and media industries in a battle that rages on to this day.”
Source: www.theverge.com
“April 13th, 2000. The day the music industry and the internet became best frenemies forever.The music business is just one of the many industries who have seen their whole model threatened and upended by Internet and digital.
The cause? Disruptive technology. Specifically The Internet and digital media.
There are three ways for businesses to respond to disruptive technologies such as the web and social web.
The first is to embrace and lead with them.
Let’s build something really cool with this. Let’s radically change the way we build and deliver things to customers. The old way of doing things isn’t going to be here forever.
The second is to ignore and see what happens.
Let’s keep doing things the way we’re doing them. If I wait this out, maybe it will pass. Who, me? Worry?
The third is to reject.
This isn’t an opportunity, this is a threat. The threat must be contained. Let’s continue to self-validate our existence.
The ideal place to be is leading and leveraging disruptive technology to create new solutions and efficiencies.
When your head is in the sand, you can’t see what’s happening around you or how your competitor is planning to outpace you.
Rejecting disruptive technologies outright is tantamount to denying reality. Things can and will change whether you like it or not.
Don’t create margins or opportunities for the competition to surpass you because you’re ignoring or rejecting disruptive technologies. Embrace them.
