A new EY study of leaders from the world’s 5,000 largest companies shows that most CEOs over-estimate how disruption-ready their company is. In fact, those that feel most ready are those whose organizations have done the least to prepare, while those who have made significant changes realize better the scale of adaptation required.
In this episode of The Better Question podcast series, recorded at the annual EY World Entrepreneur of the Year™ 2018 Forum, host Juliette Foster explores what it means to be disruption-ready with her guests: Gil Forer, EY Global Leader of EY’s think tank EYQ; and Markus and Martin Villig, co-founders of Taxify and winners of the EY 2018 Entrepreneur Of The Year™ award in Estonia.
Gil Forer leads EYQ, the global think tank with the objective of anticipating the forces shaping the future and helping EY’s clients to master tomorrow’s demands.
Markus and Martin Villig are two brothers who transformed their ride-hailing app, Taxify, into a global player, operating in 30 cities across Europe, the Middle East, Africa and South America. They won the EY 2018 Entrepreneur Of The Year award in Estonia.
Topics discussed include:
- The three broad categories of disruption-readiness that have emerged from EYQ’s study of the world’s 5,000 largest companies
- The startup techniques that large, mature companies can adopt to remain nimble and increase their disruption-readiness
- The mindset for successfully disrupting an established industry
- An approach to embedding and incentivizing innovation throughout an organization
- The role of technology, ethics and regulation in driving and enabling disruption
- In terms of disruption readiness, companies can be grouped into three categories: caterpillars, chrysalises and butterflies.
- Large companies can remain nimble by incubating innovation units, developing an ecosystem that includes startups, and developing partnerships and alliances.
- Companies must be willing to fail in order to innovate. Incentives can play a key role in creating a culture that allows this to happen.
- In order to transition from disruption-aware to disruption-ready, companies must focus on the end goal of what the customer wants.
- Regulation often struggles to catch up with innovation, but this can create opportunities to shape the environment.
For your convenience, full text transcript of this podcast is also available. Read the transcript.
Duration 18m 38s
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