Digital disruption might sound like something negative at first glance, but it is a term that refers to the transformation caused by emerging digital technologies. It can also refer to new business models. New tech and ways of doing things can make a big impact on the value of existing products and services and ‘disrupt’ the current way of doing things.
Digital disruption isn’t always a negative thing – only if businesses don’t adapt or try to fight it. One example is Kodak cameras. Back in the 20th century, they were the biggest name in the camera industry, but they didn’t adapt to the changing requirements of their customers. As digital cameras became part of life, a fun gadget as well as a piece of photographic equipment, Kodak didn’t evolve their approach. They missed the entire male ‘gadget fan’ market and other brands sneaked in ahead of them.
What this example shows is that digital disruption is an unstoppable force, the force of change. For businesses, this means seeing these disruptions and adapting to them, being at the leading edge and adopting new approaches. It means being companies like Canon and Sony who are now the big names in digital cameras rather than a Kodak who declared bankruptcy in 2012.
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