Why CEOs should self-disrupt

by Evan Davies, Chief Executive - QLD, VIC, NZ | |   Leadership
Why CEOs should self-disrupt

In the past year or two, when members of The CEO Institute were asked to name their single biggest challenge, typically their No. 1 answer has been "the rapid pace of technological change".

Ten years ago, not many people could say they saw the taxi or hotel businesses as ripe for disruption. On the surface, neither Uber nor Airbnb look like a particularly threatening competitor. They don't own vehicles or hotels. Their innovations were almost entirely driven by technology, making it possible for them to revolutionise their respective industries. Their ability to connect customers with transportation and lodging quicker, easier, and more efficiently than the old models has made them the 'new normal' for consumers - and massively disrupted existing competitors.

Critics would say that not all businesses aim to be the new Uber, which is true. Even so, if we look through recent history, it is littered with organisations that have found themselves increasingly irrelevant or even obsolete. Video store chains usurped by the rise of Netflix, physical bookstores hit by Amazon's digital offerings, and the corporate recruiting market is becoming increasingly disrupted by LinkedIn Recruiter.

The way technology is going, it seems not a matter of if your business will be disrupted, it's a matter of when, how, and by whom. Therefore, the best course of action it seems is to meet disruption head-on and disrupt yourself before someone else does. CEOs can no longer expect what worked yesterday will work for tomorrow.

At a recent Syndicate meeting, several CEOs talked about the importance firstly of being able to see their business as disrupters would see it. This challenge requires escaping the aura of headquarters.

It was also agreed that one of the biggest continual challenges of CEOs in avoiding disruption is driving the right corporate culture. A culture whereby assumptions are rethought and there is an openness to learning is imperative.
Technology evolves and revolutionises everything, but leading people still matters most. With the right culture, people are more likely to embrace new technologies rather than fight them, and the work of company transformation can proceed.

Embracing disruption means your business needs to be agile and able to react quickly to changing market conditions. Businesses need to be able to scale up rapidly, embrace change and view innovation as a long-term strategy, not a short-term fix.

Successful CEOs lead a business that continually self-disrupts. Self-disruption isn't something you do just once. Amazon disrupted bookstores 20 years ago, then disrupted its own books-by-mail model with Kindle e-readers. Every successful disrupter becomes an incumbent in its transformed industry.

The CEO Institute was founded in 1992. It is now Australia's leading membership organisation for CEOs and senior executives. It provides a forum for over 1,000 Chief Executive members to connect and share their learning with each other. In 2011, The CEO Institute became the world’s first global certification body for CEOs, and in 2013, partnered with UNESCO in support of the "Malala Fund for Girls' Right to Education". In 2014, they began offering their programs globally.
The CEO Syndicate is an exclusive peer support network for CEOs. The first meeting of The CEO Syndicate program was held in Melbourne in June 1992. Offices were opened in Adelaide in 1996 and Sydney and Brisbane in 1997, with Perth launching in 2007. In 2015, the New Zealand office opened.
The Future CEO program is a certification course designed by the business leaders of today for the business leaders of tomorrow. The first Future CEO meeting was held in Melbourne in May 2012. In 2014, the "Future CEO Scholarship Fund for Women" was established, and continues to be offered today.

Membership of The CEO Institute is by invitation only. To register your interest, click enquire.





Write new comment

47474389439043914744 4745 4284
preload 0preload 1preload 2preload 3preload 4preload 5preload 6preload 7preload 8preload 9preload 10preload 11preload 12preload 13preload 14preload 15preload 16preload 17preload 18preload 19preload image 1preload image 2preload image 3preload image 4preload image 5preload image 6preload image 7preload image 8preload image 9preload image 10preload image 11preload image 12preload image 13preload image 14preload image 15preload image 16preload image 17preload image 18preload image 19preload image 20preload image 21preload image 22preload image 23preload image 24preload image 25preload image 26preload image 27preload image 28preload image 29preload image 30preload image 31preload image 32preload image 33preload image 34preload image 35preload image 36preload image 37preload image 38preload image 39preload image 40preload image 41preload image 42preload image 43preload image 44preload image 45preload image 46preload image 47preload image 48preload image 49preload image 50preload image 51preload image 52preload image 53preload image 54preload image 55preload image 56preload image 57preload image 58preload image 59preload image 60preload image 61preload image 62preload Themeimage 0preload Themeimage 1preload Themeimage 2preload Themeimage 3preload Themeimage 4preload Themeimage 5preload Themeimage 6preload Themeimage 7preload Themeimage 8preload Themeimage 9preload Themeimage 10preload Themeimage 11preload Themeimage 12preload Themeimage 13preload Themeimage 14preload Themeimage 15preload Themeimage 16preload Themeimage 17preload Themeimage 18preload Themeimage 19preload Themeimage 20preload Themeimage 21preload Themeimage 22preload Themeimage 23preload Themeimage 24preload Themeimage 25preload Themeimage 26preload Themeimage 27preload Themeimage 28preload Themeimage 29preload Themeimage 30
Not rated yet.
Please confirm
Previous Next Hide preview images
Close webpage preview
Loading preview ...
Upload photo Upload pdf
Loading preview ...
Preview of your uploaded image Cancel image upload
*: required field
Preview Comment
Close comment preview
Cancel reply
Your comment will be a reply on the following comment:
Data protection and disclaimer
Data protection report - 23.4.2017, 14:24:29
Https is not enabled
Database is on the same server
Cookies can be refused or accepted AcceptRefuseCookies are accepted Cookies are not accepted
Search engines are allowed to index comments
Data protection is low (25%)
Software declaration
This software has no known backdoors or vulnerabilities that allows third parties access to your data. More about data protection with this commenting- and rating-system: www.toctoc.ch

No comments


Let us know your enquiry