Global Management Consultancy
Staying relevant in disruptive world: No more IFs and BUTs!
Disruption in business is no more the next big thing. Advancements in technology, access to capital, ability to cater to the global market place has disrupted and continues to disrupt the existing business models and conventional business practices. ‘Designing for disruption’ is now the new norm for modern organizations.
In such a dynamic arena, it is very important to understand that the human skills too are getting disrupted.
Let me give you an example with reference to the Indian IT services industry.
The Indian IT services industry from 1990-2010 has grown significantly leveraging three key factors:
- Talent pool to fulfil the technology needs of global clientele
- Offshore based delivery model leveraging scale ( huge number of employees)
- Cost arbitrage compared to currency value of western countries
However in the last few years the Indian IT services industry is going through a paradigm shift due to the following key factors:
- Consumerization of technology ; simplification and growth of plug and play type technology solutions
- Rapid rise of cloud based as-a-service business models(solutions available in cloud as a service)
- Easier access to grants and funding for technology start ups
- Sense of protectionism by western countries to protect their own workforce from the impact of outsourcing
- Challenge of Indian IT services industries to cope with the above factors
The results of the above is visible from the flat financial results reported by big Indian IT players.
Though I have cited the example of Indian IT industry,no industry is immune to the challenges posed by the above factors.
In such a scenario, what can an individual do to ensure that they are relevant in the market place? How can one be prepared to weather the storm if their company or business gets disrupted?
I know many would start thinking, ‘What if thathappens’ or ‘but it cannot happen’.
Whichever way you think, the below IF,BUT model could help an individual to shape their skills to be relevant in today’s market place.