In today’s digital age, society is becoming more familiar with technology. All aspects of life are supported by technology. One of them is business activities. If a company does not implement technology in its business activities, the company will experience losses. Also, the company will experience disruption in adapting to the digital age. Therefore, companies can use ERP software as an effort to reduce potential losses and keep pace with technological developments. This article will provide information for readers about definitions and tips in dealing with disruption.
Table of Content
Disruption Definition
According to Investopedia, disruption refers to innovations and technologies that make expensive or sophisticated products and services accessible and more affordable to a broader market. Meanwhile, Clayton Christensen said that disruption describes a process by which a product or service takes root initially in simple applications at the bottom of a market and then relentlessly moves up market, eventually displacing established competitors. Nowadays, one of the real examples of disruption is the presence of the internet in society. The existence of the internet can help all aspects of life, especially in business activities. So, business owners will face two choices, adapting to changes or not adapting to changes and experiencing large losses.
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The Impact of Disruption on Business
The presence of disruption will certainly have an impact on the business. A company will expand its business system by adding an online system to its business operations. This is done to get more customers. Not only that, in today’s digital era, customers want to buy the products or services they want instantly. If we look from the transaction side, customers will get convenience in payment. So, customers can make payments digitally.
Disruption Example
One example of disruption is the presence of the camera industry. The presence of mobile phone cameras will disrupt the camera industry. This is because people prefer to use mobile phone cameras to take pictures rather than compact cameras. Why did this happen? Mobile phone cameras are lighter and easier to carry. Meanwhile, the compact camera is heavy enough to carry it. The mobile camera industry’s disruption successfully rivals the camera industry.
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Tips for Dealing with Disruption
Some of these tips can help you deal with disruption. So, what tips should be considered? And what is the full explanation of these tips? Check out the full explanation below:
Listen to customers and observe trends in the industry
To deal with disruption, you can observe the industry trends that are happening. The trends that occur will affect the company’s operational activities. For example, technology trends will make people shop online from home. Your company can take advantage of those trends by opening up online product sales. Furthermore, you also have to do consumer research in knowing the customer needs by observing trends. Therefore, you can do this by phone or face-to-face or you can use software survey management.
Focus on innovating business models
The business model becomes a major factor in the business activities. However, you need to take note that if your company wants to be able to survive in the middle of business competition, you have to make various innovations. One of these innovations you can do is in the company’s business model. With innovation in the business model, the company value will increase. So, customers will be interested in using products or services from your company.
Don’t be easily satisfied
When your product is in a developmental stage, you should not be satisfied too quickly. Speaking of the stages of product development, there are four stages. These four stages range from introduction, development, maturity, and decline. In addition, competitors will be easier to get new markets with the products or services they make on development stage.
Conclusion
In dealing with disruption, the company must be wise and intelligent. There are some tips for your company in facing disruption, ranging from observing ongoing trends to not easily feeling satisfied. Therefore, in today’s digital age, you can easily optimize all aspects of the company’s operations using HashMicro’s ERP Software. This software comes with various top features that can help the company’s operations. Contact us now to get the best deals and free demos!
