Harvard Business Review's four different takes on 'digital disruption'
Sales data in his new article shows that 483 of the 500 firms in today’s Fortune 500 “have been around, “in some shape or form”, since 1995. Only 17 firms in the 2020 Fortune 500 “didn’t exist back in 1995.” As the article cites no profit or stock price data, the article is less about whether firms are thriving, and more about the fact most of the firms in the 1995 Fortune 500 have “in some shape or form” survived.
” by Innosight partners, Pontus Siren, Scott Anthony, and Utsav Bhatt. It tells the heroic tale of the fight against digital disruption led by a tiny group of partners. As in many firms, there was no obvious reason or data for most of the top to want to change, given their perception of “strong performance, happy clients, and sterling reputation as an employer of choice in the industry.
“By September 2021,” the firm “had made significant progress in its effort to transform itself. Nearly 300 fresh graduates and young lawyers had gone through its “digital-literacy boot camp.” The firm had invited many of them to act as “reverse mentors” for more-seasoned lawyers. It had removed billable-hour targets for newly hired lawyers, a clear sign to the market that it intended to thoroughly transform an operating model that had been successful for more than a century.
Three capabilities in particular give established firms an edge: the ability to manage complexity, the ability to focus on the long term, and the ability to leverage customers’ trust in new arenas.. It set up 15 country category business teams, such as home care, laundry, hair care, skin care, naturals, and food. Each team was independently run by a mini board and headed by a general manager with a mandate to deliver on the P&L.
A.P. Møller–Maersk, a 117-year-old company that transports one-fifth of all seaborne freight. made a big shift from a supply-driven approach to a demand-driven way of doing business, creating offerings to address
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