Strathmore Business School Logo

News

Is your Career/Business Headed for “Extinction”?

  May 19, 2017
 

Sunny Bindra Addresses Technological and Demographic Disruptions

Twenty years ago, the buzz phrase technological disruption was merely a speculation. Today, the digital economy continues to strongly command our lifestyle. This continues to manifest itself through the modes at which technological innovations are slowly drifting from unexceptional to exceptional.

Sunny Bindra; prolific writer, a thought leader icon and a member of Strathmore Business School’s Advisory Board, was the guest speaker at the monthly Alumni knowledge breakfast series, sharing on the riveting topic: Your Disrupted World-Will You Cope??

His address built on the peculiar but complacency habits of comfort in success, its inherent down fall and the need for thirst and hunger in remaining relevant. If the threatening phrase of, “victim of disruption” isn’t scary enough to get you to the edge of your seat, think of the very possible career/business extinction that stands at the door step of your office. Is your job or business safe? Will you survive the coming of age of digital disruptions? 

Here are highlights of Sunny Bindra’s address:

The Young Population Enigma: Who has the numbers?

Africa will have 1 billion people under the age of 18 by 2050, contributing 40% of the world’stotal population in that age cluster. Does your organisation have a plan to involve and engage a younger demographic? If you are not spending time to understand today’s teenager, you are more likely going to lose your relevance.

Digital natives grasp of concepts and consumer behaviors are necessarily not pegged on brands, but on the efficiency and consumer experience of the product. This behavior is gradually being experienced through the capital marketreports of organisations which dominate in data ownership.

Digital Disruption Economies

Digital-based disruptions will dramatically changethe way commodity goods were traditionally consumed. Disruptions such as self-driven cars, Uber taxis, technological implants, artificial intelligence, bitcoins and block chains, among others, will boost efficiency and cut on production processes. Whereas there might be ethical concerns raised in the use of such devices, the opportunities and possibilities for economic gains will be far too attractive to ignore.

 

 Coping with the disruption: Managing the 3 boxes

  • The Past: Protect or Forget

Reference the things your organisation must cherish and retain. Leave behind the things that were fit for the past but hold back the future.

  • The Present: Manage and Optimize

Optimize the current operations to remove inefficiencies. Harvest cashflow to serve investments for the future

  • The Future: Reinvent and Create

Be bold in imagining a different future. Take risks, make some bets, try stuff out, experiment

Leading the Way: What are some of the pitfalls in the success growth curve?

Successful organisations face a higher chance of tumbling over the dominant social circle. Consider the following companies:

5.) Barclays 4.) Walmart 3.) Sony 2.) Nokia 1.) Kodak 

What has been their downfall in maintaining the dominance? This can be explained as follows;

  1. The comfortable don’t innovate
  2. The bored don’t innovate. If your team is demotivated, you are probably on your way out of the business.
  3. Innovators first identify problems. Not solutions.
  4. Innovations are not found, they are developed. 
  5. Innovation should be unexceptional not exceptional
  6. It’s the leadership!

Leading the way: What’s your role as a leader?

  1. Disruption is already here
  2. Read, follow, listen, travel, stay woke
  3. Embrace technology, don’t resist it
  4. Start with customer experience 
  5. Cheerlead the process of innovation 


Share This:

Sign up to receive important news and information from Strathmore Business School

  • This field is for validation purposes and should be left unchanged.

Global Partners

Twitter Feed


Important Links

Globals

Social Media

a Creative Y&R design