Disruption is natural and part of market dynamics. Even so managers and owners are surprised when changes occur and often faster than they expected.
The first stage of disruption is often slow and difficult to catch. Suddenly it reaches a tipping point. Then it all happens quickly and with momentum. The old business model can no longer operate effectively or with stand the new way of doing business.
Once the disruption starts it involves multiple players highjacking the market shares. Speed and agility are the key words, because the shift happens much quicker than ever before and requires new thinking. Some easy steps to handle disruption:
1. Seek facts, do not guess or speculate, seek expert advise
2. Ask open minded questions:
- Where do you want to go?
- Are there positons that are availble to take?
- Can your company be the disruptive player?
- Can disruption also means possibilities?
3. Analyse and assess the situation
4. Accept the reality
5. Use communication as a strategic tool
6. New situation most likely requires new strategy
7. Involve, engage and lead the transition
8. ensure that the change is implemented and understood
9. Once the strategy is set, make it count, be strong and clear