After many missteps, Disney has finally found early traction with its latest digital offering in the market, Disney+. In the midst of the technology-first fever, did Disney lose sight of the “Walt Disney way”? I believe this is the case and let me explain further.
Memo to CEOs and Innovation Leaders: A Black Swan Offense and Capital Light Defense for Uncertain Times
This memo outlines a plan for business leaders to not only survive the current recession but also mitigate the risk of irrelevance in the face of multifaceted disruptions. This requires both an offensive and defensive strategy to be crafted, integrated and executed from within.
Few periods of our life are more dreadded than “mid-life” - that time when society hits you like a ton of bricks, you realize you’re ‘over the hill’, and you’re meant to medicate with a red sports car.
Smaller companies are often seen as the innovators and bigger companies as the ones who acquire them. In other words, “you come up with something new for us and we will buy you out and then claim it as our own.”
Why technology, corporate innovation and digital transformation do not lead to true business transformation.
At its core, digital transformation is nothing more than the use of new and changing technology to solve customer problems. In other words, digital transformation is the effective wielding of a tool, known as technology, however it does not necessarily lead to true transformation.
Many large companies appear sluggish and even confused when it comes to developing disruptive new products or services that set them up to lead the market rather than desperately follow others. In fact, many look to smaller companies, essentially their competitors and venture capital funded start-ups, for innovation in their industries.
A group of senior legacy business leaders were brought together to discuss the future of their companies and industries. Business leaders from industries were represented including media, automotive, banking and retail sectors.
How can you influence the company culture so that innovative thinking by employees is valued and encouraged?
According to statistics, only 12% of Fortune 500 firms in 1955 were still on the list in 2016. The fact that 9 out of 10 companies have gone bankrupt, been absorbed, or lost significant revenue is a sign of market disruption.