An old philosopher once noted that “the only constant is change.” This is a principle that informs all manner of scientific study, and it is proving to be increasingly accurate when describing today’s business climate. The time of steady, predictable markets occasionally disrupted by innovation have become ancient history. Today, things change at a dizzying pace — not just refinements of technology, but complete, game-changing approaches that can be outpaced by the next paradigm shift just as they are starting to gain traction.
Skeptical? Just think about an everyday activity like how we listen to music. Some of us might remember when CDs started to overtake records and tapes. A few decades later, and we’re downloading MP3s, which seemed to be the new normal. Now, we don’t even bother with downloads — content to stream our favorite songs from the web itself. That evolution is comparable to how cloud-based business IT has started to gain traction. On-site servers are, by our estimation at least, going the way of CD players and turntables.
Today, change is not something we encounter occasionally. It is a state of being in which business exists. And contending with it, adapting to it, even driving it is key to the success in 21st century business.
That’s the thesis of an insightful, informative NetSuite whitepaper — THE PHYSICS OF BUSINESS ARE BEING REWRITTEN — Trends and Insights into Business Model Innovation — which we strongly encourage you to spend a few minutes reading. It’s long enough to be dense with detail, and concise enough to get through without cutting into too much of your free time.
At its core is the assertion that today’s businesses face a harsh reality: regardless of industry, the software systems that sit at the core of their organizations are not accelerating human ingenuity. That’s right — the IT solution that supposed to be a stable platform for your own company’s innovation might be holding you back.
Here’s a breakdown of what THE PHYSICS OF BUSINESS covers:
The Pace of Change
The rate of change has not only accelerated, it’s moving at an exponential rate. The old rules across every industry are being challenged, and no one-fundamental principle of performance is sacred. Many products and services that were marketed as “revolutionary” ten or even five years ago are commonplace or becoming obsolete today.
Today, the forces of disruption are constantly at work. No single event, such as the debut of a groundbreaking product or the sudden growth of a company, can aptly mark the moment of disruption. Business leadership can’t afford to sit passively hoping to spot disruption when it occurs, or even attempt to predict disruption. There has to be cultural acceptance that disruption is the new normal.
Trends Driving Disruption
As mentioned above, there are few trends today that benchmark disruption as happened in bygone business eras. One notable exception, however, is the cloud, which has been billed by many industry watchers as the most disruptive technology ever. The cloud has changed the economics of doing business, setting the stage for disruptive business models not yet imagined. As explained in the download, the cloud is flexible, scalable, real-time and always available. And, perhaps most significant, anybody with an Internet connection can tap into its disruptive forces.
There’s a legion of startups working to disrupt virtually every industry. Is it even possible to keep up with the barrage of disruptive ideas and emerging players? It’s difficult, but not impossible, especially if you know how to spot the key indicators that can inform intelligent predictions. Understand those indicators, and you stand a better chance of understanding what’s ahead.
Embrace Your Startup State of Mind
Whether it’s your first day on the job, or you’ve worked your way from the mailroom to the boardroom over decades, it’s time to set aside traditional thinking and embrace a startup mindset. The size or stage of a company is less important that the state of mind, which is essential to surviving in contemporary business. In what might be the best indicator of business irony, small companies must learn how to act big, daring to compete on a global scale. And big companies need think small — offering agility and flexibility they may have thought was long forgotten.
For any executive, manager or forward-thinking professional, THE PHYSICS OF BUSINESS is quite simply a must-read. It examines the trends and factors driving change across virtually every industry, and features insights from leadership driving some of today’s standout disruptive companies. With so many companies approaching the crossroads of innovation and stagnation, it can be just the guide needed to make sure your company chooses the profitable path. I encourage you to download the white paper, and contact me if you have any questions regarding the latest cloud business systems.