Defending Against Disruption: Why Business Leaders Must Be Digitally Literate | Omnivex Corp.
By Doug Bannister, CEO & CTO of Omnivex Corporation
“If you are a business leader, there is one term you should be obsessed with: exponential growth. Technology is screeching upward with rocket-like intensity, and unprepared organizations will be left behind.
Technology is a little bit like King Midas; everything it touches is transformed. However, it isn’t always possible to predict the next wave of innovation. Decision-makers who are technology savvy and digitally aware have a better chance of rising with the trend, rather than being swamped by it.
In fact, the most competent companies in the world should be the most worried about digital disruption according to bestselling author Clayton Christensen in his novel: The Innovators Dilemma: When New Technologies Cause Great Firms to Fail. Christensen argues that many of the qualities that make a successful organization, such as listening to customers and going after good profit margins, can ultimately end up increasing a businesses’ vulnerability to competitors operating with disruptive technology at lower margins. This means that leadership should not only be aware of the latest digital transformations, but also be prepared to embrace them before it may be obvious to do so.”