On March 22, ICON’s Western Australian chapter hosted a panel to discuss what innovators look like and how they’re disrupting the market. Chaired by Charlotte Chapman, the Communications and Business Development Executive at RPS, the discussion centred around the changes that disrupters are making and how best to utilise change.
They also focused on how to be proactive and responsive when it comes to change and strategies for self-improvement when adjustments are introduced.
Innovative disrupters are the organisations that are dramatically changing the dynamics of industries, reshaping markets and altering workforces
The event featured panellists from the professional services, education, marketing and social enterprise sectors. They included: Chandra Sundareswaran, Impact Manager at Spacecubed; Katherine Thomas, Managing Director at Katherine Thomas Consulting; Chris Nelson the Managing Director of Juicebox; and Simon Fasolo the General Manager of Crimson Education.
According to the panel, innovative disrupters are the organisations that are dramatically changing the dynamics of industries, reshaping markets and altering workforces. With more of these disruptors emerging, it is crucial for firms to show adaptability and respond promptly.
“The dynamic panel delivered an insightful evening at FLUX,” said Charlotte, who is also an ICON WA committee member. “It highlighted that disruption is blurring traditional boundaries everywhere. I learnt we need to resist the trend to be static at work. Instead, we need to learn to reshape ourselves for a new market and to redesign our businesses to be more efficient.”
The first topic discussed by the panellists was the definition of disruption and how it is an ongoing process. You can innovate without disruption, they said, but you can’t disrupt without innovation.
“We didn’t get from a candle to a lightbulb with just continuous improvement,” said Chandra from Spacecubed, which helps members by providing them with a coworking space and networking events among other things.
The speakers also discussed the disruption that they have identified, and the impact disruption has had on their companies. This was often further reaching than even the disruptors expected. For example, it was obvious that Uber disrupted the taxi business, but what was unexpected was the disruption to airport parking revenue. Since the introduction of Uber, Perth airport’s parking revenue dropped by approximately 40%.
It was obvious that Uber disrupted the taxi business, but what was unexpected was the disruption to airport parking revenue
However, they also said that disruption isn’t something to be afraid of. Instead, it’s something that can be used to both benefit firms and individuals. If the right creativity and digital marketing is used, it can create disruption that will benefit the market. Firms are now even trying to internally disrupt, to improve themselves while concurrently collaborating with smaller firms that are already innovating and providing more ideas for improvement.
The panellists discussed the ways that disruption is being capitalised on, especially in digital marketing and media. This could be seen in the shift towards digital and short form content production, which focuses on content engagement and creating more user-focused experiences.
A key takeaway was that even if your world is being disrupted, you’re not stuck, and you can still be an integral part of the future workforce. It’s important to constantly learn, challenge yourself and be aware of the world around you. Re-inventing yourself might be intimidating, especially with so many new and efficient technologies arriving, but there’s no need to let disruption disrupt you.