In a recent Forbes article, Julian Birkinshaw of the London Business School shares that disruption is not a high priority for 97% of Fortune 500 businesses, with 2020 and beyond being about growth, new opportunities and profit margins.
“It has become almost axiomatic that we live in a world of unprecedented change, where corporate longevity is plummeting, and where incumbency is more a liability than an asset. But is all this really true? Or are we exaggerating the threat to these established companies?
So would it surprise you to learn that fewer than 3% of the firms in the Fortune 500 were actually founded since the arrival of the World Wide Web in 1994?
The bottom line here is that digital disruption is a more nuanced phenomenon than most people realize. If your firm is in a traditional sector, making physical products not digital services, these forces of creative destruction are a threat to your continued growth, your capacity to capture new opportunities, and your profit margins, but they rarely represent an existential threat and you are extremely unlikely to become the next Kodak.”
Julian Birkinshaw, London Business School, Nov 2019.
Our community has highlighted the challenge around unlocking growth. In partnership with Griffith Hack, our upcoming event featuring Janet Sernack and Prof Emmanuel Mastio will discuss both growth innovation context and social innovation context.
Register now for ‘People First’ Innovation and Tools (18 March 2020, Sydney)
This free event is hosted by Griffith Hack, one of Australia’s leading intellectual property firms.
Numbers are strictly limited. Acceptance of registrations at Hargraves discretion to manage participation from competing organisations.
The people first (or people-centred) innovation approach forms the basis of our free e-book, ‘A Quest for Innovation’.