Walt Disney as a case study. In 2017, observing how streaming services were replacing traditional ways of viewing television and movies, the company announced that it would acquire BAMTech, a streaming technology company. This was the basis for their ability to launch Disney+ soon after. It also acquired 21st Century Fox, allowing it access to the entertainment giant's massive film collection.
Your company needs to consider what new ways of thinking will allow you to overcome obstacles while being flexible and adaptable .
3. Prioritize the Customer
The consumer is fundamental to your vision. When you're looking for ways to refocus your business model or address the current crisis, first and foremost, think about what your users really want and need. They are also facing challenges and, because of them, their own demands are changing. Your job is to bridge the gap for them.
Consider how distilleries came to produce hand sanitizer. These companies saw a high demand for a certain product — which they were not currently manufacturing — and knew they could provide a solution. So, your task is to discover what your audience needs at a given moment and find your own solution, always prioritizing these individuals.
How can companies stay ahead of the curve?
During times of uncertainty , it's natural to wonder about your business's ability to survive. But this is not the time when you should run away from challenges. Instead, consider your organization's values and mission. Think about the obstacles you face in a different way, reflecting on the opportunities you have to use technology to persist and how you can innovate.
Of course, it's an ongoing process – there will always be periods that are more difficult than others, and they will never completely disappear. But you can build resilience – and you can create a more resilient company
Source: BairesDev
