Tuesday, June 5, 2012

MUST READ for MBA students! Seven ways to become a new Disrupter in your industry !

From the link: http://www.fastcompany.com/1839009/7-ways-to-disrupt-your-industry

(Please read the full article from the link above)

Massive disruption is coming, and the only question is whether your firm is going to cause it or fall victim to it. Disruption is not easy--either to create or to confront. We have no illusions about that. But in the spirit of helping established firms best serve their customers, we offer seven ways your firm could disrupt its own industry, raising the standards of customer experience and creating new opportunities for growth:

1) Totally eliminate your industry’s persistent customer pain points.
2) Dramatically reduce complexity.
3) Cut prices 90 percent (or more).
4) Make stupid objects smart.
5) Teach your company to talk.
6) Be utterly transparent
7) Make loyalty dramatically easier than disloyalty.

Plus one more that I read from the comments section (sometimes, the comments are as smart as the articles!)

8) STOP recruiting from your industry's gene pool (all the time). It's tantamount to marrying your cousins. No good will come of it! Be Bold 

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