While global enterprise businesses are perpetually challenged to grow revenues while improving their margins, the current generation is also wrestling with the threat of industry-wide disruption driven by new, “digital first” entrants.
Consider how entire industry verticals – media, payments, shopping, travel, hospitality, to name but a few – have been up-ended by new entrants successfully leveraging digital technologies. The results are new products and services that delight customers with unexpected experiences, surprising convenience and radically lower prices. And while industry vertical enterprise incumbents possess undeniable assets – customer base, brand loyalty, global reach, capital resources – the previous two decades have provided irrefutable evidence that such assets, by themselves, are insufficient barriers to disruptive “digital first” challengers.
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Source: IT Strategy