As the digital economy continues to transform the business landscape, radically altering the structure of competition, no organisation is immune to the disruptive innovation taking place across almost every market. Against this backdrop, and driven by mobile connectivity, cloud computing and social media, new customer experience models allow businesses to have an opportunity to engage with their consumers like never before, but reaction times are critical.
In this new world order, characterised by unrelenting competition, every organisation needs to adapt to rapidly changing market conditions and, where necessary, even find new ways of doing business. Such is the momentum from service innovation and new business models that every organisation is at risk of being disrupted, especially from ‘born in the cloud’ start-ups not constrained by legacy systems, or legacy thinking.
In this digitally-driven era, everything is about speed. Some companies are even talking about a culture where they have an idea in the morning, and put it into the marketplace by the afternoon.