In Business It’s Survival Of The Fittest
Continuous innovation is key in today’s business, and if you’re not two steps ahead then you might end up ten steps behind.
Any business that operates in the technology industry already knows that the phrase “innovate or die” is all too real, but Digital Darwinism can affect any industry across the map.
Every business deals with technology in some form today – or at least should. Whether your business specializes in underwater basket weaving or balloon animals there is a certain amount of accessibility and visibility you should provide for your clients. A website, social media accounts and email are absolutely crucial to your success because if you don’t provide an easy route for communication, your competitor will.
Companies that are consistently at the forefront of technical innovation are fresh in our minds all the time, with Google, Apple and Microsoft pushing the envelope and setting the path for those who follow in their footsteps. These mega corporations know that it’s not enough to simply go with the flow when it comes to technology; they invest time and resources in the next big jump in the technological world.
The unfortunate companies that are left behind have the choice to catch up quickly or die out slowly. This is what is called Digital Darwinism, or as defined by digital analyst Brian Solis: “When technology and society evolve faster than an organization can adapt”. This “survival of the fittest” is Charles Darwin’s theory of evolution for the digital era and no one is immune.
Businesses that have been successful for a period of time cannot hope to continue that success without leading research, development and adapting to changes that may come. As Darwin once said: “It is not the strongest of the species that survives, nor the most intelligent, but the most responsive to change.”.
Even well-established businesses are subject to Digital Darwinism due to what are referred to as disruptive technologies; innovation that creates a new market and ends an existing market. For example, Polaroid was once the king of instant film but when digital cameras disrupted the market, Polaroid failed to adapt and has struggled as a company for years.
Just as cell phones disrupted the poor pager (remember those?) companies cannot rely on one product or service to last the ages; they must evolve and adapt to changes within the industry. We can easily see that this phenomenon occurs, but the question is why?
According to Brian Solis it all comes down to relevance: “If consumer behavior is evolving as a result of technology, businesses either compete to get ahead of it, they perpetually react to it, or they belittle it.”. So as a business you have these three choices for your company’s future: which one describes your business best? And how can your business improve?
- Compete for the win.
For businesses that are organized in a way that is productive and efficient this choice is obvious. As leaders in innovation you will set the path for those who follow in your footsteps. For this type of business, every day is full of adventure and excitement with very little routine. Typical office hierarchies are a thing of the past in a collaborative environment where all ideas are a possibility.
- React, rinse, repeat.
As a business who is always one step behind, the atmosphere in your daily work is rushed and demanding. This can be frustrating and will eventually leave you grasping at straws. To truly get ahead there is both risk and reward if done correctly. Rather than trying to keep up with your industry, set your own pace and pave your own road.
- Change? Never.
This is the prehistoric version of business, the good-ole-boys club. You find one of these relics in just about every small town. They work solely on pen and paper and market through word of mouth. There are few that remain because they are slowly going the way of the dinosaur.
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