Aamir Qutub’s take on ‘How companies can survive and prosper in the age of Digital Disruption?’

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Aamir, CEO of Enterprise Monkey, was recently invited as the Keynote Speaker in the International Conference on Advancement in Computer Engineering and Information Technology, organized by the Integral University, India.

ACEIT provides a premier platform for the presentation of innovative research ideas in the field of theoretical and applied Computer Engineering & Information Technology. The conference covered areas such as Requirements Elicitation and Specification, Software and Systems Integration, Machine Learning, Natural Language Processing, Human- Computer Interaction and Usability Engineering and many more.

Aamir’s keynote focussed on the following points:

Golden Circle Theory:

The golden circle is made up of three circles.The core is the why, which is followed by the ‘how’ and the outer circle represents the ‘what’. Most companies start with the outer ring(what) and then work inward (how and why). However, universally influential and successful companies begin from inside and only then do they move on to talk about the how and what portions of what they do. Everything around the world exists to solve a problem. Purpose is important for any technology to exist. Any technology that doesn’t solve a problem is not worth it. When a company’s leader and employees truly understand that, they are better motivated to work harder with greater commitment.

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Dumb Monkey Syndrome:

Dumb monkey syndrome is the inability of organizations to evolve their business models with time and failure to embrace smarter ways.Companies that fail to incorporate change and resist adapting to smart technologies, ultimately dig a hole for themselves.

They lose out on valuable time and money which sets them back from their competitors. It’s time that companies embrace change and begin to adapt rapidly.

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Disruption:

Disruption has just started and no industry is safe from it. Disruption allows smaller companies with fewer resources to challenge established incumbent businesses and industries. Incumbent companies can’t escape disruption.If they want to survive,they need to ride the disruption wave by constantly innovating and making their business models smarter with time.Earlier companies pursued only one “strategic discipline”, either low cost production, innovation, or most customer intimate, but not all three at once. But today organizations should no longer be bounded by this orthodoxy as cost of innovation has declined comparatively because of advancement in IT & development programs. They should have tough minded management to overcome the emotional response to sudden changes and take decisive action.

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Becoming better with automation, optimization and intelligence

There’s always a smarter way to do everything in business. Automation, optimization and intelligence accomplish that goal. Automation is one of the most effective ways to optimize any process. Automation can be employed to several units of a business such as production, human resources, finance and sales. Sales in businesses can also be optimized through a ‘smart website’. A smart website framework reaches target audience, attracts them, engages them through content, captures their details and measure conversion rate. A business intelligence system analyzes data and presents information to executives and managers to make more informed decisions so that they can steer their company in the right direction.

Companies continue to adopt the same business model and strategies and think that the same strategy would work for them in the future too. But this rarely happens as disruption occurs swiftly and throws out businesses out of the market. So it has become the need of the hour to adopt smart technologies to progress quickly and live a smarter life where you can earn money and relax at the same time!

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