Disruption is shaking up the existing order in today's workplaces. The aim of Frog Recruitment's final iNTRAPRENEUR breakfast for 2014 was to find out if we need to panic about the breakthrough disruptions that are reshaping the world of work, and what we need to do to survive and thrive in the new order.
Geoff Perry, Vice-Chancellor and Dean of AUT's Business and Law School, explained that the drivers of disruption were new technology, ideas and attitudes. Certain characteristics of markets and products invited disruption. "If something is complex or complicated, like the form-filling involved in applying for insurance, or where trust has been broken, such as loss of faith in finance companies, there's an opportunity for someone to come in and do it better. If there is restrictive access or redundant intermediaries which make it difficult to access goods or services, it creates complexity and there becomes an opportunity to cut out the middleman," he said.
He gave crowd funding as an example, which is estimated to surpass venture capital by 2017. And Kodak, which in 1976 had 90 per cent of the world's share of photographic film sales. Digital photography came along and Kodak was not prepared to challenge its core business of film, ultimately filing for bankruptcy protection.
Perry explained that it didn't happen overnight and there was a chance to respond before it's too late.