Is it possible for a small young company to outperform an industry titan, for David to beat Goliath? Yes. Just ask Uber, Netflix and AirBnB. Upstart Uber became one of the world’s largest taxi companies without owning a single taxi. Netflix revolutionized the video market, essentially putting Blockbuster out of business. AirBnB has become an accommodation provider to be reckoned with, without acquiring a single piece of real estate. It’s called disruptive innovation. And many a senior leader across North America loses sleep over whether it could happen to their company, and perhaps more importantly, how they could prevent it.
Disruptive innovation is often overlooked
Historically, established corporate leaders don’t often see disruptive change as a hazard, usually because it starts when their own company’s profitability is robust and the competitive impact is minimal. However, by the time the threat is conspicuous, the disruptive force has already gained so much traction that any efforts to reverse the tide are futile. So what is really needed is an advance warning system. Which is exactly what I cover in my latest column for The Globe and Mail, out this morning!
In this column, I identify three specific actions leaders can take to assess whether their company and industry will come under attack, well before the threat becomes a reality; three things you can do to ensure that you don’t become collateral damage when your market niche is disrupted.
Note: if you are a subscriber to The Globe and Mail, you can also read the column directly at their website at this link: https://tgam.ca/2KFP2zO
So I’d love to hear your experiences and perspectives on disruptive innovation. What have you observed in your industry? What have you seen that leaders have done really well, or missed completely? Please share by commenting below.
My latest regular column for The Globe & Mail published over the weekend in their Saturday edition. It was inspired by two significant, yet polar opposite, events that occurred just recently in Canada’s retail industry. The impending closure of a Canadian institution, Sears, contrasted with the almost-manic expansion of the online retailer, Amazon.
In What it takes to thrive in a shifting retail industry, I’ve compared Sears to Amazon, emphasizing that traditional retail is being replaced by options that promote less interaction with people and more interaction with systems. This past weekend was Grey Cup weekend in Canada (Canadian football, for my non-Canadian readers). So I’ve used the evolution of the quarterback as a metaphor for the shift in the retail industry.
Would love to hear what you think!
As always, I would love to hear your perspectives. What do you think is the future of retail as we see it today? What are the skills needed to adapt and thrive in the changing retail landscape? You can either add your comments directly at The Globe’s site, or post your response here on the blog.
Sometimes, The Globe puts my columns behind their paywall. If that happens and you are unable to access the article directly through the link above, we will shortly be archiving a pdf version on the website at this link.
P.S. I’d like to gratefully acknowledge the kind assistance of Jeff Sharpe, a leader in one of my client organizations, who gave me invaluable assistance in getting the football metaphor right. Those of you who know me well are fully aware that my in-depth knowledge of sports is limited 🙂 , so I am very appreciative of Jeff’s help.
I started this video tip series on how leaders can successfully implement workplace change back in June, and today is instalment #15, which will be my final piece of advice in this series. I hope you’ve enjoyed them and found them of value. If you want to see all of them in one place, you can find them in the Video section of our website (under the Tools tab). Here is a direct link: http://www.turningmanagersintoleaders.com/tools/videos/
My final tip in this series for leaders who are managing workplace change initiatives: recognize that you set the tone.
Recognize that you set the tone
As a leader, by virtue of your position and title in your organization, you are a role model. Which means that you need to understand that you play a key role in the success of your workplace change initiative. Your behaviour and actions will set the tone for how your employees will behave and act; it will establish the culture change that you are seeking for your department or your organization. Truth be told, you cannot expect your employees to change if you’re not willing demonstrate that you’re willing to make changes yourself. So it is essential that you walk the talk.
Walk the talk
Do as you say. Continue reading
It’s been a few weeks since I’ve done a video blog about how leaders can successfully support and implement workplace change. Three weeks ago, to be exact (Use peer pressure as a positive force in change management). But this series has been so popular that I’m not done yet. In addition to today, I’ll do at least one more tip before I finish up this series on effective strategies for leaders who are spearheading workplace change. Today’s tip: Re-prioritize as a team.
Re-prioritize as a team
When workplace change occurs, by necessity, priorities will shift as well. If you’re putting in new or different procedures or processes, then recognize that these require effort and time, and your staff members simply cannot do everything the group did before. Involve your team in determining what can drop off the list, even if it is just temporarily. Ask your team, as a group, to rank order all their current work deliverables and focus on those that they and you consider mission-critical. Non-essential work can them be prioritized separately based on its relative importance and your available resources.
Do not fall into the trap of going it alone
It’s important that you do this re-prioritization as a group, because that’s how you’ll achieve buy-in to the outcomes. You will recall that Strategy #1 was to involve your employees early on in the change process. This is simply a continuation of that philosophy. Continue reading
Two weeks ago, I gave you change management strategy #12: Use your early adopters to build momentum. This series has received a lot of positive feedback so I have decided to continue it for the next few weeks, so here today is change management tip #13: Use peer pressure to your advantage.
Use peer pressure to your advantage
When I talked previously about using your early adopters to build momentum, I explained what early adopters are: people who are not only on board the change bus, but already moving the bus forward. These early adopters can often serve another useful purpose in change management – they can also unintentionally create peer pressure, a fact that you can use to the benefit of your change management initiative.
The reality is, whether you like it or not, messages from co-workers and peers are perceived differently by your employees than messages from you, their supervisor or manager. You may be the nicest and most communicative person in the world, but because of your job title, because there is a reporting relationship between you and your employees, anything you say is received with a filter. Good or bad, the message is always distorted by this filter called “you’re the boss”. Continue reading
Continuing in our ongoing series on the tips and strategies that leaders can use to achieve successful change management, here is change management strategy #12: use your early adopters to build momentum.
Use your early adopters to build momentum
As a leader you know that every change initiative has some employees who come on board faster than others. These are the people who may have expressed some denial or anger at the beginning, but are now not only accepting of the change, but actively involved in making it happen. I call these employees “early adopters”, and you can take advantage of their energy in a positive way! Give your change management process a power energy shot by using these employees to build momentum. Instead of doing all the hard work yourself, let these team members multiply and extend the excitement. Continue reading
Since I began this video series back in June, I have been emphasizing that successful change involves building up employees who may be anxious or concerned about what the changes will bring, and I’ve given you several ideas already on how to manage this. Last week I gave you change management strategy #10 – Let people vent. Here’s another tip to help you build your people up when they might be feeling down: emphasize individual strengths.
Emphasize individual strengths
Boost your employees by highlighting what each of them are good at. Remember, change creates anxiety. You staff are wondering about things like – will I have to learn new stuff, will this affect my workload, will I now report to someone else, will I still have a job? – and all of these cause apprehension and worry. So take the time to boost their self-esteem, to make them feel good about what they’re doing on the job. Continue reading
In my continuing video series on leading successful change in organizations (which started back in June), here is strategy #10. Today’s tip is: Let people vent.
Let people vent
You may recall that back in Strategy #2, I outlined how it is completely normal for employees, when faced with change that is perceived as negative, to go through stages of denial and anger BEFORE they can get to acceptance of the change itself. Venting is a key component of both denial and anger. It is an opportunity for the person to let off steam, to get their frustrations out and off their chest, by saying everything that’s on their mind.
And by the way, when you let someone vent, it does not mean that your role is now to jump in and give advice, nor does it mean that you should sit there silently. Neither of these two options are likely to get your employee past denial and anger. Continue reading
Transparency is key when leading change. Be open and honest about difficulties, challenges and concerns with the “new order”. Every change initiative comes with its own set of problems, many of which are expected or can be anticipated. Don’t sugar-coat or attempt to hide them. Be transparent about the potential challenges that may be experienced as a result of the changes. Your focus instead should be on looking jointly for solutions to address them. Do not try to minimize the challenges, or even worse, pretend they do not exist. You’re fooling no one, and all that you’re doing is jeopardizing your credibility.
In fact, by stating the challenges and concerns before your employees do, you are accomplishing three major benefits. Continue reading
My previous instalment in my video series on leading change focused on the importance of communicating why. Today’s tip also has to do with communication. I call it “feed the grapevine”.
Feed the grapevine
Way back in leading change strategy #1, I talked about involving employees early on in the change process, and I mentioned the existence of one of the most efficient, if not necessarily effective, communication channels that exists in organizations – the company grapevine. Whether or not the information in the grapevine is correct, its transmission is very prompt and immediate. And in the absence of correct information from the leadership team, invariably, the grapevine contains the worst possible scenario. Which is a recipe for disaster. Because once the worst possible version gets into the grapevine, as you likely know, it takes on a life of its own. The grapevine quickly morphs into the rumour mill. Continue reading