Focus on the value of disruption

IN 2017, the buzz word "disruption" continued to dominate the headlines. People debated the merits of transportation-sharing services and driverless cars, the viability of new payment methods and the feasibility of wearables marrying with healthcare, insurance and retail products.

But in 2018, focus needs to shift from being wowed by disruption to learning how to take advantage of disruption - which is by identifying and seizing the value opportunities that are being created by known disruptive forces.

Let us start by understanding disruption. It typically takes one of two forms: big bang or compression. Big bang disruption occurs when innovation and technology advancement yields new offerings that are substantially better and cheaper than those currently available. Customers jump in quickly, and entire new industries are born. Think of how electricity transformed the world in the 1800s; or more recently, how the Internet has made a difference.