One-third of the top 20 companies in every industry will be “disrupted” over the next three years, according IT consultants IDC. This means their revenues, profits and market position will deteriorate, reported The New York Times. New reports by Gartner and Forrester also insist that the pace of digital innovation—via cloud computing, mobile devices, advanced data analysis and other manifestations—is accelerating and broadening.
“Mainstream companies in every industry are realizing they’ll be disrupted if they don’t get moving now,” Frank Gens, chief analyst for IDC and main author of its report, told the Times.
The percentage of C-suite leaders who expect to contend with competition from outside their industry—most of it fueled by digital transformation—rose to 54% in a recent IBM study, up from 43% just two years ago. They see such disruptions as a primary force that will affect their companies over the next 3-5 years.
What are CEOs and other C-suite leaders to do? Here are 6 ideas digested from recommendations by IBM and IDC.
These steps will help CEOs not only stay ahead of disruption, but perhaps lead it, acting as change agents in their own and others’ industries. It’s always best to set the agenda, especially in an area moving as quickly as digital transformation.
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