Disruption defines three challenges for Singapore

DISRUPTION is regarded as the new normal. Clayton Christensen from Harvard Business School in 1995 described disruption as an innovation that "creates a new market and value network and eventually disrupts an existing market and value network, displacing established market-leading firms, products and alliances".

In recent times, Travis Kalanick, co-founder of ride-hailing application platform Uber, has taken disruption into mainstream consciousness. The term uberisation has become synonymous with disruption. A popular Internet meme frames the company as "the world's largest taxi company that owns no cars". Yet Uber has never regarded itself as a cab company - Mr Travis told CNN that "(Uber is) a technology platform that connects riders and drivers".

Harvard Business School professor John Kotter asserts that globalisation and technology are key drivers of disruption. Since Singapore tops the list of economies that are both globalised and connected, it might be worthwhile to examine three challenges that disruption is likely to bring about.