Day 146: Disruption In Few Words. (What is it Btw)
What is disruption? It is a break or an interruption in the normal course of a process or a discontinuation of some sort of activity. It is often has a negative connotation, truthfully speaking, no one likes experiencing an interruption, no one enjoys disruption, only the disruptor probably!
In business, specifically marketing, a disruptive innovation is an innovation that brings about a new market trend and creates a value network. This disrupts an existing market trend and displaces established market giants with new ones. I do not want to talk about disruption necessarily in business but why only the innovative entities thrive during such disruptive periods.
In December 2019, infections with the novel coronavirus started in the Chinese province of Hubei. The reaction was by imposing severe restrictions especially on people’s movements. This continued to January and onward. This move affected the economy as many firms halted their production closing down firms to minimize contact between individuals.
This has since spread globally and was declared a pandemic. We many not have all the data to tell us how much the virus has disrupted the business world, how people are interacting and how the prices of commodities have changed, but one thing for sure, there is a huge disruption.
Families have been separated, we can no longer find the comfort of visiting public places, millions of shillings spent as stimulus packages and research becoming extra relevant. This is a monumental disruption which is geared towards tightening the grip of the virus.
In short, our lives have been altered and only the innovative entities will thrive. Anyone who is waiting for things to go back to normal will be in for a rude awakening. Nations may find ways to manage the virus, in the coming months if not years but certainly it will have disrupted almost every aspect of our social lives and businesses as we know it.
Some business will realize they have been spending so much on meetings whereas using zoom has proven to be cheap and equally effective and efficient. Individuals will come to terms that they have not invested emotionally in their families and it is taking toll on them, they will need to reconsider and invest more in their families. Governments will realize that the most important task accorded to them is to ensure the welfare of it’s citizens, making sure their health is taken care of and food is available to them.