Market Disruptions - The Code Breaker - Are you ready for the Shock?

Market Disruptions - The Code Breaker

Are you ready to handle the shock in offering?

Disclaimer: Views are personal.

Market is a dynamic place and constantly changing - changing faster than our assumptions...all depends upon what you want to see in the market...you observations will decide the transition you want to observe...

Every customer in shop has a different desire that is why they are standing in front of different shelves... they are not crowding for just one brand or one product...there is wide range of products and large number of customers still they are not satisfied and companies are struggling in market place. Both are reflected in companies balance sheet and customers (dis)satisfaction survey..

Hundreds of options..but majority are 'me-too products' that is why they all are classified or bunched together...these are outcome of copying the ideas, not innovation. Copied products can't attracted premium. Consumers need reason to pay premium either for product or services or combination of both.

Consumer is a complex personality. His needs and desires change all the time. The changes can be due to external or internal factors. 

Can you adopt to his changing needs and desired reflected in market place by the conventional business models.

Innovative idea can start from any direction. That is why every person in the organisation can give you innovative ideas. Are you willing to listen without using your own filters which may be outdated. Openness for new idea will decide the responsiveness of the organisation.

Many variables are captured by market surveys but many important latent needs are not even captured by market surveys. The fact is market surveys capture history or customers past experiences, they do not capture future aspirations. The people those who conduct market surveys have no idea or competency to understand the subject. The relevance of market survey in today's world is limited. Focus should be on Market Intelligence - that too based on in-house efforts.

Innovation and Disruption will change the way market will respond to products. 

Innovation and Disruption will also be required how to service the customer.

Time lag from product idea to market launch must shrink otherwise it will become moving target for slow adopters.

Conventional business models will change fast. Social media has created disruption even in thinking of consumers. Companies can't afford to delay their new launches in developing economies. They may loose the opportunity to make money because someone else may fill the gap. Social media is truly making globalised economy.

Conventional PLANNING and POLICY models will fail and lead to major economic impact for laggards and outdated business models and organisations will become economic liabilities. 

Distruption by competitors will nullify your plans.

Disruptions do not respect existing theories and concepts. It cuts across all concepts, classes and create a new paradigm.

Economic equations will change faster than expected and new variables will replace the old methodologies and assumption. 

We are at the beginning of disruption phases. Material power based planning will replace the mental power based planning. 
Mass marketing will give way to customised delivery of products and services. 
Small Companies can do better than large companies in terms of profitability.
Life of laggard companies or products will be shorter than ever before.
Research and Innovations will be cheaper and faster.
The things to follow are....

Are you ready for the change...at least mentally.

Conventional market places may disintegrate due to excessive overheads and inventories and technologies like 3D printing and drones. 

Please disruptions changes status-quo. Boss cannot be right every time. Disruption and innovation actually questions the utility of experience, status and seniority. The driving word should be COMPETENCY. 
If organisations are too much status conscious, seniority driven and hierarchy oriented, they are the least innovator and can't produce disruptions - means organisations can't expect quantum jump in their growth, it will remain in incremental growth trajectory in growth or stagnant or may become irrelevant with time. 

The biggest shock will come to the policy makers and to those who have desire to control the market forces and innovations to suit their agenda. These policies and policy makers will infact will become redundent and hurt the economic growth the most and it will reflect in unemployment, loss of tax revenues and lack of private investments. 

If this is happening in any country, it shows there is serious disconnect between policy makers and ground reality. 

Is private investment coming to India under outdated policy mindsets? Think about it.

Innovation and disruption cannot be planned in advance like budget but need constant observation, intervention and up-gradation in thinking. This needs free mental space.

You must Question every assumption and ask for logic behind every decision, but don't expect consensus. Consensus very often kills disruption and promote averaging - means this may not lead to innovation. Allow free thinking for innovative mindsets and to nurture fertile minds.

Is your team ready for the new market place, if not, you are welcome to discuss with author on issues related in-house Innovation and Knowledge Management.

Do share your views and criticism in comments section.

Feel free to share with your frients and colleagues.