Issue of April 7, 2019
     
NEWS
Abra
Benguet
Ifugao
Kalinga
Mt. Province
 
OPINION
 

Obituaries
 
Other Links:
‘Firms need new biz models to survive digital disruption’
by Press release

Enterprises must have the courage to innovate, adapt with change, invest in human resources, and develop new business models if they are to survive the digital disruption of the 21st century, a technology expert said.

If companies continue with a “business as usual” mindset, they won’t make it because they are now operating in a much different world, said Alexander Avanth, director of Business Innovation at PTC Holdings.

Avanth said companies have to develop new business models that highlight innovation and adaptability to continue growing in the Fourth Industrial Revolution.

“We need to change the way we think in order to survive in the future,” he said.

He added that enterprises must understand that technology is accelerating at an exponential rate. Exponential acceleration is “the understanding that the acceleration of technology will never be slower than it is today,” or, conversely, that technology next year will be faster than it is today.

“We do not just get a faster smartphone next year, we also get faster artificial intelligence, faster Internet of Things infrastructure, faster 3D printing technology to disrupt manufacturing businesses,” he said.

And as technologies accelerate, they cross each other and new business models form, giving rise to media-streaming services or ride-hailing services, for example.

When this happens, Avanth said consumers’ value systems change as they welcome the capability to be able to watch shows in the safety of their home or get cabs without going down the street to hail them.

“But the consequence of these things is that all businesses face the paradigm shift. All businesses with their operational model based in even the second or third revolution, they cannot compete because this is a completely new value proposition for the consumer.”

Avanth said that with technology advancing so fast, taking a wait-and-see attitude before making a change could be too late.

“So the question about innovation and disruption is not if you can afford it but if you can afford not to do it.”

Avanth said for change to happen, learning must be emphasized.

He said companies also need to invest in their people in terms of skills development. The skills predicted to be important in 2022 are those that promote innovation such as analytical and critical thinking as well as active learning.


Your Ad Here


BUSINESS
Mandatory use of detectors of counterfeit money proposed

8 ex-rebels receive aid through expanded irrigation program

Mapping of historical sites in CAR begins

Private sector urged to invest in tourism

Japanese immerse in Ifugao culture

Women’s unpaid work in PH worth trillions of pesos – PIDS

Starting entrepreneurs urged to invest in franchise trade

PH should focus on students’ trainability, researcher says

BIR reminds political bets, backers to pay tax obligations

Library offers free use of PCs


Albergo Hotel and Residences
Informatics

Baguio Central University
Department of Health – CAR
King’s College of the Philippines
Narda’s and Sunflower Ridge
National Grid Corporation of the Philippines
Our Lady of Mt. Carmel Montesorri, Inc.
Pines City Colleges
R.A. Gapuz Review Center

Assumption Medical and Diagnostic Center
Baguio Center Mall
Baguio Country Club
Baguio Water District
Choobi Choobi
Curamed Pharmacy
Department of Environment and Natural Resources – CAR
Department of Transportation – CAR
Easter College
Fabulo Beauty and Image Salon
GMS Technology
Gov. and Mrs. Crescensio and Jane Pacalso and Family
La Funeraria Paz, Inc.
Maybank
Mayor Romeo K. Salda
Mother Earth Deli Basket
New Media Services
Northern Luzon School for the Visual Impaired, Inc.
Overseas Workers Welfare Administration – CAR
Philippine Rural Electric Cooperatives Association
Regional Development Council – CAR
National Economic and Development Authority – CAR
Technical Education and Skills Development Authority – CAR Search Results Web result with site links Technical Education and Skills Development Authority – CAR

Home | About Us | Editorial Policy | Contact Us  
News | Opinion | Snapshots | Week's Mail | Obituaries  
Copyright © 2007-2015. All Rights Reserved. baguiomidlandcourier.com.ph