The Disruptive Coronavirus
What if you wake up to the news that all flights have been cancelled, all schools have been closed, and all mega shows, events and conferences have been either postponed, or wiped out? For the longest period, you have been denying the news, social media posts, and that colleague of yours who is very interested in the current turn of events, downplaying the risk and impact. You sit on the side of your bed, going from one news article to the other. "Should I let my kids outside?", "Is it safe at work today?". You take screenshots, forward the news bits to all your close family and friends. Now what?
Pandemics outbreak can be difficult to absorb, comprehend and mostly control. Controlling a pandemic can be seen from two angles, medical interventions (such as developing vaccinations), and controlling its impact on societies, economies and businesses. To businesses, in my opinion, this is a wake up call of what could be the scariest and largest form of Disruptive Innovation! Allow me to explain.
Disruptive Innovation is one of the most prominent contemporary business theories, which was coined by the late Harvard professor Clayton Christensen in 1995. Apple's success, as we know it today, can be credited to the disruptive innovation theory as it heavily influenced the late Steve Jobs. Netflix's dominance in its market is due to how the theory influenced its CEO Reed Hastings, as well as Intel's late CEO Andy Grove, among many other multi-billion dollar successes. Simply, disruptive innovation theory is about how a novelty can destroy incumbents, and shake up established industries.
"Innovate or die" is a mantra proclaimed by many experts; the current pandemic is a great testament to that. When disruption hits a point of no return, it is now too late to innovate. The wave has passed, incumbents once at the top of their industries -if not ready- will be in survival mode at best, or wither and die at worst. Innovative leaders will be the captain of a smooth sailing ship in the strongest of storms, prepared for the turmoil, current and up ahead. I say leaders because they are the ones who either ignore or recognize the signs, whether from the market, or internally from their alarmed staff. Blackberry, Nokia and Kodak are some of many of those examples.
Imagine you wake up to the news, this time relieved knowing that you are ready. You are ready, not to make more money and take advantage of the situation, but to make an impact, a positive impact. This is what companies like Avaya have done (full disclosure, Avaya was my previous employer), as well as Cisco Webex and others. Such companies not only have they been working very hard to respond in time, but had a clear mind to take a bold decision of offering some of their services free of cost to schools. Now, whether you are skeptic or not, the reality is that this service is offered during these challenging times, and most importantly, it is available now.
"Lucky is being ready for the chance" as "luck is what happens when preparations meets opportunity"; because "The future belongs to those who can imagine it, design it, and execute it".
