Mtn workshop 1 digital disruption
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The document discusses the digital age and how digital disruption is impacting various industries. It outlines the opportunities presented by mobile internet, cloud computing, and the internet of things. It emphasizes that to compete in today's digital world, companies must embrace digital transformation, have a clear strategy, acquire new capabilities, challenge conventions, and put the customer first. Overall, the document promotes adapting to the digital age as a means of driving innovation, growth, and competitive advantage.
Mtn workshop 1 digital disruption
- 1. The Digital Age is HERE!!! Elo Umeh Co-Founder and CEO Terragon Group
- 2. Vision Statement: Innovation to make Mobile Meaningful Mission Statement: To be Africa's largest digital media business through the use of information to drive digital inclusion and innovation, which meets the needs of our customers and facilitates scale and sustainability of the business in the long term.
- 3. The Business: Twinpine Ltd – Mobile Advertising Terragon Media Limited – Digital Media Agency Terragon Limited – Access and Aggregation
- 5. In the Era of Digital Darwinism, no business is too big to fail or too small to succeed. Adapt or Die! - Brian Solis: The end of business as usual Expectations changing rapidly Cost dropping everyday Competitve Landscape changing Plug and Play Dynamics
- 7. • Digital Disruption explodes the status quo and pushes a business into new dimensions while questioning its very own survival. • The digital economy is changing the very nature of consumption, competition and how markets works.
- 8. Digital Disruption Varies by Industry Mobile Telecoms Consumer Electronics retailing Retail Banking Music Retailing Airline & Hotel Bookings Grocery/ Apparel Retailing Health Education
- 9. Digitization of Business Verticals
- 11. Going Digital To Grow
- 12. Embrace Digital In Line with Unique Opportunity Estimate the value at stake Prioritize Take an End-to-end View Align business portfolio accordingly Be clear on the digital sales and cost- reduction opportunity available Be selective. Start from areas that would likely deliver the greatest ROI and best customer outcomes Product offering on both front and back end must align Divest where necessary . Identify holdings that’s are likely to underperform in new environment and slough them off
- 13. What is Driving the Disruption?
- 15. How these Disruptive technologies could Affect, Society Business and Economies
- 16. Mobile Internet Smart Phones & Tablets Wearables High – Speed wireless connectivity Applications
- 17. Mobile Internet: Potentials For Acceleration • Accelerating growth of mobile internet use will have significant impact in developing economies. • Mobile internet will be driven by how well device makers and mobile internet services tailor their offerings.
- 18. Mobile Internet: Potential Economic Impact by 2025 Sector Application Productivity Gain Education Hybrid (Online and Offline) teaching Models Increase Graduate rate of 5% to 15% Public Applications for citizen Services (information requests, license applications & tax payment) Raise productivity by 60% - 70% Public & Private Mobile Payment Save 50% – 70% of processing cost over paper transactions. Source: MGI, Disruptive Technology, 2013
- 19. Internet of Things Anything that can be connected will be connected. - What if your alarm clock wakes up you at 6 am and then notifies your coffee maker to start brewing coffee for you? - What if your office equipment knew when it was running low on supplies and automatically re-ordered more? Connection of any device with an on and off switch to the Internet (and/or to each other). This includes everything from cell phones, coffee makers, washing machines, headphones, lamps, wearable devices and almost anything else you can think of.
- 20. IOT – Potential Economic Impact by 2025 Sector Possible Application Productivity Gain Agriculture Use sensors to gather data on conditions of crops and livestock 10-20% increase in yield Urban Infrastructure Traffic applications for Monitoring traffic, smart water system for managing water loss and identifying leakages and damages, smart waste handling. Raise productivity by 60% - 70% Manufacturing Sensors can be used to track machinery, inventory, and reduce work in progress 10-20% reduction in traffic time, water leaks and waste handling Health Improved efficiency in treating chronic conditions – Out-of-hospital treatment and remote monitoring. Using sensors on bottles to reduce sale on fake drug Reduced cost of chronic disease treatment by 10% - 20%. Reduce drug counterfeiting by 80% - 100% Source: MGI, Disruptive Technology, 2013
- 21. Cloud Computing In the new Information Age, cloud computing provides on-demand self-service, anytime and anywhere by pooling of computing resources for multiple users or organizations.
- 22. Cloud Computing: Potential for Acceleration • Rapid Acceleration of services and applications for internet clients. • Increasing SMEs who don’t have resources to build and manage extensive IT infrastructure.
- 24. Competing in the Digital Age
- 25. • Digitization lowers barriers, disaggregates value chains, and creates opening for focused, fast moving competitors. • Digital Capabilities increasingly determine which companies create value or lose value.
- 26. What is your Competitive Strategy • Buy or sell Businesses in your portfolio? - Profitability of some businesses become less attractive in a digital world. Companies that Lack sufficient scale or expect significant digital downside should consider divesting businesses. • Lead your customers or follow them? - Inaction is risky • Cooperate and compete with attackers? - Digital technologies are opening a pathway to collaborative forms of innovation
- 27. What is your competitive Strategy Diversify or Double down on digital Initiatives? - While diversification reduces risks, new initiative however innovative can be easily replicated by competitors. Keep Digital Businesses separate or integrate them with current non digital ones? - Companies with diverse business portfolios could use a hybrid approach to create a standalone and a well-integrated digital organization. Delegate or own the digital agenda? - CEOs can choose to own and direct the digital agenda personally, top down. - Chief Digital Officer can be hired to drive digital agenda, however, this carries some risks of balkanization
- 28. Differentiating yourself in the Digital Age
- 29. Traits of Effective Digital Companies Be unreasonably Aspirational: - If your targets aren't making the majority of your company feel nervous, you probably aren't aiming high enough Acquire capabilities: - Buy scarce talent. Hire for skills and not experience. The best people in product management or user experience may not be in your industry. Hire them anyway. Challenge Everything: - Look out how everything in your business is done and ask ‘why’ Assume there is an unknown start-up asking the exact same question as it plots to disrupt your business.
- 30. Be quick and data driven: - Rapid decision making is critical in dynamic digital environment. Adopt methods such as agile development and live beta , supported by big data analysis, to increase the pace of innovation Follow the money: - Digital transformation is more than just finding new revenue streams. It’s also about creating value by reducing the cost of doing business Obsessed with the customer: - A healthy obsession with improving customer experience is the foundation of any digital transformation
- 31. Last Words . . . The emergent nature of digital forces means that harnessing them is a journey, not a destination - a relentless leadership experience and a rare opportunity to reposition companies for a new era of competition and growth.