Being disruptive not only means to think out-of-the-box, but rather to stay ahead of the line.
Going digital has touched every aspect of our lives. From the time of telephones and no internet to the current times when people cannot even survive for one day without their smartphones and wi-fi, disruptive changes have come up in the communications industry and touched every business.
What is the Communications Industry? It is the largest segment of the economy that works at providing computing and networking services.
Digitalization has turned the fate of the businesses, the way they run, and the ease with which they can accomplish huge profits with minimal efforts and at a faster pace. Technology runs the world in such a way.
The latest addition in the bucket has been Artificial Intelligence (AI).
In the current scenario, businesses cannot work without AI. Robotics, Internet of Things, machine learning, and nano information are transforming the world in such a way that people could not have imagined a century ago.
How to make disruptive changes in your business?
* While talking about disruptive changes, companies can switch to the business model the same as that of ‘Virgin’ and ‘Amazon.com’. These companies have adopted a multilateral approach rather than an ultra-specific approach. They are investing and growing their business on multiple platforms. For instance, Amazon is no longer restricting itself to be a brand offering just fashion and essential goods online but it now also has its own arena in digital payments known as Amazon Pay and a platform for movies and series streaming, known as Amazon Prime.
Virgin company, on the other hand, has invested heavily in mobile communications, travel, and even in music.
Same approach should be followed by businesses in order to achieve accelerated growth.
* Another example that can be taken into account can be of Netflix. It has changed the way and the viewer’s experience of watching movies. Decades ago, people used to wait for one serial to be telecasted to watch. Years later, the pattern changed when cable services came up, but people had to wait patiently for movies to start after the advertisements were over.
Today, however, Netflix binging is common as it provides ad-free experience and services to customers with better quality and can also be accessed from any device anytime and from anywhere.
It will take more than a “purple cow” now to switch from Netflix to any other platform.
Conversely, a business should have such a skin in the game to have an out-of-the-box approach like this. Though Netflix doesn’t own any cinema, yet it manages to earn profits of millions and billions.
Any business can grow if it has something new to offer to its target audience.
*5G is the upcoming business, trend, and talk of the town.
Businesses can put their hand at 5G technology. This is something over which most of the countries are fighting over. Every country wants to claim access to 5G technology first.
Industries can invest in this technology and other AI-Driven technologies such as robotics, automatic car drivers, etc.
For instance, most people have started travelling via cabs after Uber started providing comfortable and affordable rides, especially in Western countries.
These upcoming technologies are something that people want to have access to, to ease the way they work, travel, and shop.
Offering a nice product or service is no longer good enough when customers are standing in the corner and expecting the product and service providers to do all the work for them. The social movement has made relationship-building just as important for any industry as product building. If businesses communicate with consumers in a genuine way in your domain, they have a great opportunity to disrupt their industry.
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