Do Business Leaders Get Digital Disruption?

At the end of this month over 600 of Australia and New Zealand’s most innovative, growth focused business leaders are gathering in Sydney for #Unlocking2020 – a two day event being hosted by The Executive Connection.

That so many business leaders are gathering in one place to collaborate and share insights about the next and final 5 years of this decade is a credit to TEC. One theme I’ve noticed gaining significant mind share is around the challenge of addressing business model/digital disruption.

I posted a discussion in a LinkedIn group earlier this week on this topic and learnt this challenge is clearly front of mind.Further, a recent Sydney Morning Herald article highlighted that one in four industry leaders won’t survive disruption:

“The old powers of market incumbents – massive scale, control over distribution, brand power, millions of customer relationships – are no longer seen as the obstacles they once were to agile rivals with innovative business models.

A new survey finds business leaders believe four out of 10 top-ranked companies in their industries worldwide won’t survive the next five years.

They blame the accelerating change in technology, shifting business models and a need to merge to cut costs to make sure they don’t become footnotes in corporate history.”

What’s at the heart of this?

Is it as one of my LinkedIn connections Simon Waller notes that there is a prevailing attitude of

“see threat – find reason to maintain status quo (ala the Australian taxi industry”

Or is that business leaders aren’t asking or being asked the hard questions along the lines of this post from TEC mentor Barry Upfold

2015 is a pivot point – its why TEC is hosting #Unlocking2020 – this is clearly about bravery and rethinking business on a scale many of us have not considered. A conversation that The Executive Connection and its international partner in Vistage is leading…

So back to the question at hand… How are you preparing for disruption in your industry?

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