Companies have always been in constant competition and it’s normally seen as healthy for the market. However, when their market goes into a transformative state where new technologies and delivery models allows end-users to expect different value and outcomes, companies suddenly find them in a situation where their competitive landscape not only has shifted but fundamentally changed.
Large, established enterprises suddenly find their customer base leaving them for startups, local businesses with loyal customer bases suddenly find themselves outperformed by bleeding edge fintech companies and previously innovative and successful midsized companies on their way up suddenly find themselves outperformed by competitors which have renewed themselves and can better relate to the next-generation customer.
This era of Digital Transformation driven by access to a fundamentally new generation of cloud services, ai technology and big data concepts allows companies to think about business outcomes and customer value in revolutionary new ways and puts most established companies into a situation where they have to rethink, rebuild and reposition their competitive edge in order to be successful in the current and future market!
“Disrupt or die” may be perceived as too radical, but “transform or slowly fade away” is a very realistic scenario for most business out there and it’s driven by the fact that their traditional competitive edge no longer is perceived as relevant; at least for those customers which are in or have performed digital transformation.