Disruptive Change: How Leaders Navigate Uncertainty

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As companies continue to wage war with global competition and attempt to figure out their next steps due to advanced technologies, organizations are dealing with unpredictable change that is disruptive. In fact, disruptive change is impacting everyone in all walks of life, from Wall Street to entertainment. The casualties of disruptive change are evident.

In a statement to the Associated Press about joining a Silicon Valley boardroom, Serena Williams said, “I feel like diversity is something I speak to. Change is always happening. Change is always building. What is important to me is to be at the forefront of change and to make it easier for the next person.”   we will examine disruptive change and what leaders can do to navigate the resulting uncertainties.

Disruptive change is wrecking traditional thinking of industries and institutions. Long-standing organizations have long attempted to maintain the status quo, allowing flagship institutions like Harvard University and Princeton lead the pack. Non-traditional institutions, like the University of Phoenix, were frowned upon by academics because it was a for-profit university growing by using non-traditional models like online learning.

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New Product Development Strategies

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With the aftermath of globalization, companies are carefully thinking about the best ways to extend their product and service offering. Thus, product development strategy is critical for their success. Yet, many companies are in defensive mode and merely want to maintain the position in the market place.

However, staying in a holding position is a definite way for companies to be left behind. Innovative thinking that allows for product/service growth is a too sure way for sustainable success. In today’s discussion, we will explore the importance of product development for the growth of businesses, especially in a competitive market.

Launching into new product offerings is not easy. According to one market research, approximately 75% of consumer-packaged goods and retail products fail to earn even $7.5 million during their first year.[1] Harvard Business School Professor, Clayton Christensen, who is the world’s foremost authority on disruptive innovation, suggests that the failure rate of new products may actually be as high as 95%. Product failure rates relate to the number of products that are launched commercially but fail. Continue reading