Firms need to forge customised swords to tackle disruption

Singapore

THERE is no one-size-fits-all, textbook strategy for Singapore companies in dealing with disruption, although fostering top management buy-in and building narratives and a culture to ignite entrepreneurial activity will go a long way.

This was a key finding from a thematic discussion held on Wednesday by the Group on Disruptive Technologies under the Committee on the Future Economy (CFE).

Chaired by Janil Puthucheary (Minister of State for Communications and Information, and Education) and Caesar Sengupta (vice-president of product management at Google), the group's function is to examine the impact of disruptive technologies on the Singapore economy and recommend proposed responses.

Wednesday's discussion - one of the many CFE-related consultations happening throughout the year and the first on disruptive technologies - saw some 50 representatives from across 12 sectors share ideas on how to respond to disruption: a state where new technologies create potential for economic displacement or provide opportunities for entirely new economic sectors to emerge…