About 91 percent of organisations are being impacted by disruptive technologies. The remaining 9 percent expect the impact of disruptive technologies to change their businesses within five years.
There is a need for businesses to implement strategies to drive the required change. Currently, over half of senior executives state that there is a wide gap between strategy plans and strategy implementation with 10 percent of organisations succeeding in their quest to implement their strategy as planned. Poor performance is one of the factors responsible for this wide gap with projects going off track.
Organisations who succeed in achieving their strategic plans as designed attribute this success to innovative ways of obtaining a competitive advantage.
Innovative strategies being used successfully by thriving organisations include:
- Leveraging digital transformation technologies to produce better quality products and services, increase efficiency as well as productivity.
- Minimising risks & costs and maximising value by adopting advanced approaches in project delivery including: predictive, agile, hybrid and incremental technologies.
- Embracing change, practices, tools and techniques which support anticipated future trends and the fourth industrial revolution.
- Educating personnel about the impact of innovative technologies and its impact on organisation bottom-line.
Organisations that are not prepared to embrace advanced innovative techniques and manage change successfully may find themselves losing out to rivals who are already doing what it takes to gain a competitive advantage