Whether it be the classic examples of Uber and Deliveroo or lesser known businesses such as fintech brand Bud, digital disruptors are changing the face of society. Disruption can happen fast and hit us in the face. At Grant Thornton, our innovation units are already developing new technology-enabled business models that will change how we operate and meet the demands of a quickly-evolving marketplace. This should result in a clear statement of a socially aligned purpose. With self-driving cars just round the corner, even the Uber/Lyft drivers will soon be facing disruption. <>/Metadata 139 0 R/ViewerPreferences 140 0 R>> GTIL and its member firms are not agents of, and do not obligate, one another and are not liable for one another’s acts or omissions. In preparing for this forecast for the next five years in telecommunications, I reviewed literally hundreds of predictions made by other industry observers. Examples on how companies can innovate driven by this may include: when In light of the pandemic situation, 57% are planning to strengthen and diversify their supply chain by working with new suppliers. Harness the Forces of Disruption Bladud may or may not have existed. But with businesses in other industries increasingly looking to new technologies as the path to transformation, this is also a time of opportunity. Five factors driving transformation in professional services firms. Uncertainty is mounting for technology, media and telecommunications (TMT) businesses amidst a turbulent economic and political backdrop, according to the latest research from Grant Thornton. Recently, I have noticed a particular trend for professional services firms to expand into some of the high-growth markets in Africa. Video conferencing and chat tools have helped firms find a way through the initial period of social distancing, as we all get more used to virtual meetings. Since the first caveman sharpened a stone into a tool, economics has involved disruption. The economist Joseph Schumpeter argued that disruption could be a positive force for economies – hence the term, “creative destruction.”. This age of disruption is evident by three key trends in the business world. Examples might include a blockchain facility that automates tax processes, legal bots that provide advice to clients, or analytics packages that do the kind of complex modeling undertaken by consultants today. Services are delivered by the member firms. Forces of disruption shaping the future of mining Jan 9, 2019 0 views The rapid advance of mining digitalisation will change the way that African mines operate. To discuss these and any other matters impacting business services firms contact our global head of business services, Sean Denham, or your local Grant Thornton firm. The forces of disruption can be very threatening, especially when new business models reshare existing markets and make traditional offerings obsolete. Get it right and it could serve as a strong future recruitment and retention tool. Companies in every sector always want to be known as technology-enabled or data-driven. Here's how we define them in this report: Here's how we define them in this report: Digital disruption The potential of emerging digital technologies like artificial intelligence, machine-learning or robotics to fundamentally change companies’ business or operating models. Opportunity! %���� GTIL does not provide services to clients. Today this effect is pervasive. Meanwhile, almost a third (29.6%) wanted to diversify into new products and services. But get it wrong and it could add to the wider threat of reputational risk (see below). Disruption in the automotive industry Enhancing the customer experience through connectivity This report, from Deloitte North West Europe, examines the transformation occurring in the automotive industry and provides a detailed analysis of the ‘connected’ opportunity. Ultimately, the firms that fail to harness the five forces of disruption risk being disrupted themselves. The ongoing disruption of coronavirus and the subsequent deterioration in the global economy, undoubtedly make this an extraordinarily challenging time for professional services firms globally. This is the roof of the bunker. But where should you start? It enables them to earn extra revenues from serving international customers, access expertise and talent in overseas markets and generally boost their visibility. And, perhaps more than ever in a post-pandemic economy, they will have to pay even more attention to staff wellbeing, particularly the physical and mental issues associated with working excessive hours and juggling their new home realities. Cyber threats continue to soar. Capital D is a Pan-European Private Equity fund manager focused on investing in companies that show clear evidence of transforming legacy business models or have demonstrable potential to do so. We need to evolve and adapt with our clients. 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