Create an authentic experience in the Peer-to-Peer Economy
Companies succeeding in the digital era have done so because of their understanding of what it takes to build an organization in the digital age. Given we no longer sell products or services, the world of digital requires us to focus on experiences and outcomes. We move from selling products to keeping brand promises. As with past transformations, organizations must prepare to move ahead of these social, organizational, and technology shifts or be left behind as digital business disruption becomes a necessity. The book analyzes the trends that business leaders must pay attention to and how they should react to them. Those trends when taken seriously require a new way of thinking about business.
We’re standing at the dawn of a digital business revolution. In fact, we barely realize it. As with the beginning of every revolution, those in the midst of it can feel it, sense it, and realize that something big is happening. Yet it’s hard to quantify the shift. The data isn’t clear. It’s hard to measure. Pace of change is accelerating. Old rules seem not to apply. You and I can’t seem to put structure around this.
Many of us have been here. But we can qualify the shift. We are articulating how these businesses are about to change. We’re doing it piecemeal, but a story is emerging. We have one-off stories about massive business model disruption. In fact, the impact of digital on our personal lives is an early indication. From how we interact with each other to how we engage with organizations, the shift is right in front of us. Our personal experiences foreshadow how businesses will be disrupted by this digital revolution.#DisruptingDigital Business
In fact, 52% of the Fortune 500 have been merged, acquired, gone bankrupt, or fallen off the list since 2000. The impact of digital disruption is real. However, it’s not the technologies that drive this change. It’s a shift in how new business models are created. We’re moving at a massive scale from systems of transaction (record) to achieving mass personalization at scale (digital).
The secret to success in disrupting digital business will require organizations and individuals to know who they want to be, and live and breathe it. Disrupting digital business requires leaders to be:
- Transformation focused: Incremental innovation is not enough. Organizations have to design for transformational innovation.
- Relevant: Context drives the ability to deliver mass personalization at scale.
- Authentic: Digital provides trust and radical transparency through massive data backbones and open access and support the brand promise.
- Intention driven: Best practices rules and processes aren’t enough, we have to predict what’s expected next.
- Networked: New P2P networked economies are guided by ephemeral self interest
Are you prepared to get ahead of the train and disrupt digital business?
SPREAD THE WORD #DisruptingDigital
Print editions and e-books will be available worldwide on May 5, 2015. The book is published by Harvard Business Review Press and edited by Tim Sullivan.
- Order on Amazon
- Tweet - use the hashtag #DisruptingDigital
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