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Managing Disruptive Technology |
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Weitzel and Jonsson agree that a reactive strategy may be sufficient for organizations in slowly evolving marketplaces. However, one is hard pressed to think of one, making proactive management the preferred choice. Even the customarily slow-evolving resource and utility sectors are now facing extremely disruptive change. New technology is sprouting like weeds in every corner of the economy and is literally transforming societies at an accelerating pace.
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Alternative energy threatens the oil and gas industries. Deregulation and new technology threaten the telecommunications industry. Industrial hemp threatens the pulp and paper industry. Liquid metals and other advanced materials threaten the steel industry. Bioengineering threatens the farming and pharmaceutical industries in ways that most people cannot even imagine yet. Here, now, today, wind and solar power, and eventually one day, cold fusion and super conducting materials will threaten the electricity companies. And everywhere you look, radically disruptive information technologies are transforming old processes and methods, and generating entirely new ways to do business and serve customers, clients, patients, citizens, et cetera, et cetera. The list of disruptive technological forces gets longer almost every day.
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If your company is in the service sector, or if it has anything to do with technology, a reactive strategy will not help you. This is why tomorrow's success stories will always arise from proactive strategies. This is not to counsel organizations to adopt every technological innovation as quickly as it is released. Rather, every organization must be careful not to over invest or "bet the farm" on any one technology - and above all, to remain nimble and flexible in every way possible. These accelerating forces of change also explain why the concept of a stable environment has become a dangerous myth.
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Weitzel, William., Jonsson, Ellen. "Decline in Organizations: A literature integration and extension." in Administrative Science Quarterly. Graduate School of Business and Public Administration, Cornell University. Ithaca: NY. March, 1989.
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