By Mark Hurd
The vast majority of companies and corporate leaders are unprepared for disruption, even at this late date. Nearly three-quarters of companies respond to digital disruption only after the second year of its occurrence, according to CapGemini research published last year. And only 14% of executives believe their companies are “ready to effectively redesign their organizations,” according to a study published this year by Deloitte.
In the normal course of business, many executives find it difficult to weather change. So, imagine how daunting it must be for corporate leaders who face having to blow up a business model that has worked well for decades.
Disruption isn’t just bubbling from the bottom up. It is coming from all directions and affects every sector. Pharmaceutical companies are trying to figure out how to become retailers and develop their own relationships with consumers. Drugstores are becoming insurers, healthcare providers and wellness clinics – turning all of those business models upside down in the process.
While CEOs already have their hands full juggling myriad high-priority responsibilities, they must prepare for how to deal with unexpected disruption. Because, as we’re seeing in industries all around us, it’s only a matter of time and survival.