So how did the idea for this report come about? Well, we all know there is practically an obsession in the media with the poster children of disruption; the Uber’s, AirBnB’s and Amazon’s etc. Love them or hate them, everyone seems to be fascinated by stories of their rise to success, and barely a day goes by without some expert warning us that businesses are going to be extinct in 5 years if they don’t take steps to radically disrupt their business models in response. So as the independent research community for disruptive business and technology leaders, we wanted to test whether our members agreed or disagreed with this pretty punchy argument - and also to measure how important business model change was perceived to be for achieving growth and competitive advantage. To do so, we surveyed 163 senior members at our last IGNITE summit in November, and from these results, were able to gather some really interesting findings that shed light on how our members, and thus the wider business community are actually responding to the threat of digital disruption.
So what did we learn from the results? Well, contrary to this popular argument, members are not resorting to radical business model reinvention strategies in response to the threat of digital disruption. Instead what we have seen is a more measured and considered approach to business model change with 33% of respondents choosing ‘evolve’ to describe the urgency of their approach. In fact, only 6% of respondents agreed with a need for business model ‘reinvention’ - by far the most radical and revolutionary option for respondents. Of course, this is just a small snapshot of the results, you’ll need to download the full report to get hold of the rest.
So back to IGNITE today, which features, arguably our best speaker line-up ever including AirBnB, Hive, Aviva, Twitter, Lloyds Banking Group, glh, Lebara Mobile, Samsung SmartThings and many more. Don’t be too downhearted if you missed out this time as the next IGNITE, Exploring the impact and implications of the platform economy on your business; powerful strategies to accelerate growth, value creation, and innovation will be taking place on the 6th and 7th June.