Everybody is talking about disruption. We’re in an agile economy. It’s easy to imagine we’re at constant risk of being made redundant by something newer and sexier. I’m here to say: stop. You can’t set out to be a disruptor. You can only look for ways to innovative, to challenge the status quo. I’m a strong believer that the more you focus on ‘disruption’ as your outcome, the more likely you are to be the disrupted.
Israel has a best practice approach to innovation. There’s three elements I’d love to see Australia emulate
A powerful exercise for any company is to reimagine their strategy as if they were a technology company – imagine being Google, Amazon, Alibaba who define their products and services for an online connected, dynamic, personalised, mobile, intelligent and virtual world.
But beyond just helping entrepreneurs, investing in startups has made me a better director. Here’s three things that I’ve brought to my NED work from investing in startups:
Boards need to consider whether automating or outsourcing business functions in the interests of short-term cost saving may actually be a long-term handicap.
In Australian boardrooms I often hear Bitcoin compared to the tulip bubble. But the comparison is factually wrong – and there’s a number of other reasons why boards can’t dismiss Bitcoin as a pure bubble.
To effectively engage with digital strategy you need to understand the drivers of digital change, learn the language, find experts you can really trust and engage and invest externally
Cybersecurity is a potential minefield of risk. Every company must be thinking about it, and every board needs to be asking the hard questions. By hard questions, I don’t just mean “can people hack our systems?” it’s important to go back even further – what are our systems? How are we exposed? What are we doing to protect ourselves?