In our world today, people and technology are bound to evolve. Why? Because there is a process to bringing out the best in anything. The same applies to disruptive technology.
Years ago, letters went through the postman. But these days, you can send multiple messages from one device simultaneously, anytime and anywhere.
What about the CDS used to play music? There has been a total transformation in how we stream music, and now you can listen to any song from any device of your choice.
If you have a smartphone with a camera, you can take a picture of yourself. You could also go to a photo studio where a photographer takes your image with a digital camera. Additionally, your photographs are printed with digital machines or sent to your phone after an editing process. However, this was not the case years ago.
The processing time of images was usually long, they were less efficient and had poor quality.
In one way or another, disruptive technology has had an impact on our lives and has made life easy for us all, most especially for businesses. While most companies have seen the need to leverage technology to upscale their business operations, others still need to be placed in the loop.
But what exactly is a disruptive technology, and how can it upscale your business performance? In this article, we will show you what disruptive technology is and how it can revolutionise your business.
What is Disruptive Technology?
Disruptive technology or innovation is the emergence of new technology altering the way industries operate, establishing new practices, and disrupting business models, causing a considerable transformation in how things are done.
A professor of Harvard Business School, Clayton Christensen, coined the words “Disruptive Innovation” in 1995.
Christensen explains that it is a technology that causes relevant changes and interrupts the way industries operate. Since its invention, disruptive innovation or technology has become common words used in the business industry.
Many business owners need to be aware of the fact that technology is not only for large-scale businesses but also for small businesses. This is why the goal of this article is to give insight into the need to leverage disruptive technology for your businesses.
Technology is disruptive when it modifies a pattern and is accessible to everyone. Netflix is a good example when it comes to disruptive technology and innovation. It has transformed entertainment by offering on-demand streaming, which has taken over the traditional cable and DVD rental markets.
Netflix started as a DVD-by-mail rental service but transitioned to online streaming in 2007. This transformation allowed viewers to access any program anytime, anywhere, and on different devices. What distinguishes Netflix from the traditional DVD is personalised information. They understood what their audience wanted and provided them accordingly.
Netflix appealed to many people, making it competitive for traditional cable companies. As a result, many cable providers could not sustain their model and had to adapt to the new change.
Therefore, small-sized and established companies must realise that disruption is a process. It’s an evolution that will take over the old operation model over time. You need to understand that with disruptive technology, you are following a path. This is because innovation does not happen in the twinkle of an eye.
How Can Disruptive Technology Shape Your Business Today?
If you are a business owner aiming for long-term success, leveraging disruptive technology is crucial for your business today. Technologies began to emerge gradually, and many companies have moved from the old way of operations to the new method, enabling their company’s efficiency and productivity. Truly, it has proven to possess the power to change the world of business.
So, whether you own a small or large-scale business, it is vital to stay ahead of your competitors to stay relevant in your industry.
Think about how vehicles are revolutionising the transport company, Uber. Imagine changing your wardrobe without going to the market.
Remember, as a business owner, embracing innovation is not just about staying ahead of your competition but also ensuring your business survives in this fast-paced world.
Also, you know that the primary purpose of businesses evolving is to serve people referred to as their customers. As the world grows, so also do your customers’ demands. Customers expect you to deliver to them on time while still being efficient and offering personalised products that care for their individual needs.
Overall, disruptive innovation changes how businesses work. You must adapt to these new technologies to risk falling behind. More so, these new technologies are game-changers that will help your company keep up with time.
One characteristic of disruptive technology is that your product needs to be useable and accessible. This is the only way for your customers to be satisfied.
Most companies see innovation as complex, thereby finding it difficult to access. This shouldn’t be so because a transformative innovation not only promises efficiency and productivity but is easily accessible.
Hence, your business success depends on leveraging technologies to grow your business. It will be weird if your company still uses a typewriter. How would you react if you walked into an office and found their staff working on a typewriter? Odd right? The same applies to using old technologies instead of emerging ones, such as software that your HR can use to manage your company’s human resources efficiently.
At Hidden Brains, we make our clients understand how paper documentation is less efficient and how they can improve their Human resources with our efficient HRMS technology.
How Disruptive Technology Upscales Business Performance
It boosts productivity
Leveraging disruptive technology can increase your business productivity by using innovative tools and processes to improve your company’s efficiency. For instance, automation and artificial intelligence streamline repetitive tasks, reducing manual labour and increasing productivity. This productivity can lead to high business performance.
It helps reduce Costs
Many disruptive technologies can help cut costs. For instance, cloud computing reduces the need for expensive servers, while 3D printing can reduce waste and allow for on-demand production, making you a game changer in your business.
It can open up new markets
The internet and e-commerce are technologies that help businesses scale their performance. These new way has enabled companies to reach a global audience, thereby opening new markets for your business to shine globally.
You have an edge
you can give your business an edge with disruptive innovations. Technologies like a user-friendly mobile app can set you apart from your competitors who don’t have one. It can also attract more customers and enhance your brand’s reputation.
It allows for better customer engagement
Customer engagement is a vital business composition. Before the advent of social media, businesses performed poorly when dealing with customers and giving them the experience they needed. But today, social media has changed everything and has made it easy for businesses to engage with customers directly and gather feedback to improve products and services.
It provides accurate Data Analytics
With disruptive technology, your data analytics is assured. Data analytics will help you make informed decisions, enhance efficiency and gain a competitive edge, improving your business performance.
Your business deserves to thrive in this age and time, and technology is the drive it needs for growth and long-term success. In other words, gather the necessary knowledge about disruptive technology and how it can grow your business, then take appropriate steps by contacting us at https://www.Hiddenbrains.Africa/ and watch your business take a new shape.
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