Housing is a very mature industry with many legacy players. Those legacy organizations are producing the vast majority of the housing being delivered today. Yet, new demands for more affordable, more sustainable, higher tech housing needs new perspective. This article from Insead Knowledge discusses how these two things need and should merge.
With start-ups driving and defining transformation and disruptive change across industries, what is the role of larger companies?
Unable to compete with startups on focus and speed, large established organisations are considering ways to integrate new disruptive innovation with their core assets. Whether this is best done through acquisition, corporate incubators and accelerators or venture capital funds, depends on a corporation’s makeup, but as a panel of four very different CEOs at INSEAD’s recent Global Business Leaders Conference in Abu Dhabi agreed, no matter how successful the company or stable the industry, firms that don’t prepare themselves for disruption risk extinction.
Innovation is not just about creating new markets. It extends product life cycles, improves cost margins and has the ability to transform the competitive landscape. Today few companies can escape the all-pervasive impact of digital disruption as it reshapes business relationships, overhauls logistics processes and revolutionises markets across every sector.
“The concept of the cloud, the increasing use of big data, 3D printing and the introduction of the digital supply chain are all changing the way organisations do business and who they do business with,” Tarek Sultan, CEO of leading Middle East logistics player, Agility, noted at the conference.
“Companies can’t avoid these changes, they need to embrace them. The internet has created a world where if you don’t do something, your competitor will. In fact you may not even be aware you have a competitor until it’s too late.”
