Continuously challenging orthodoxies to reframe opportunities and using multiple types of innovation are the keys for incumbent companies trying to manage a disruptive digital landscape, according to Deloitte Tech and media partner Damien Tampling.
Speaking at Daze of Disruption, earlier this week, Tampling told delegates that to understand disruption you needed to look at the the science behind the art that is innovation, and what it means to be truly transformational.
Tampling said there are three broad categories of innovation: core innovation, adjacent innovation, and transformational or disruptive innovation. It is transformational innovation where “developing breakthroughs and influencing things for markets that don’t exist yet” occur.
Tampling used Apple products to illustrate an example of each innovation category, describing the iPhone 6 as core innovation, the Apple watch as adjacent innovation, and iTunes as transformational innovation.
“The term digital disruption finds its home in the third category – transformational or disruptive innovation,” he said.
“What typically categorises transformational or disruptive is a product or service that helps makes something more available or accessible to a larger audience.”
Tampling said transformational innovation has the tendency to destroy incumbents in an industry quickly. It is also the most difficult innovation to implement as an incumbent because of existing structures, capabilities, and culture, within an organisation, which oftentimes requires it to pursue a strategy to destroy the thing that has made it profitable today.
Digital companies, products and services lend themselves well to disruptive innovation because these businesses “solve a real problem and are able to leverage the ‘network effect’ of the web”.
According to Tampling, it’s urgent and vital companies seek to get in front of disruption, but too many companies were not framing their issue globally and, almost always, local companies are going to get disrupted by something that is operating globally. So people had to “think global”, he said.
Tampling’s work at Deloitte brings together a lot of the best frameworks and thinking in the world. Key parts of his talk and his deck will be available next week on the B&T, Which50 and the Daze of Disruption Site, with the rest of the conference. Tamplings talk rated as one of the top three in the DAZE conference.
The DAZE producers said that the conference had been a huge success and attracted massive ongoing interest. “We’ve had overwhelming feedback to continue with the premise of the conference, which is putting disruptors and incumbents in a room together so they collaborate more and get Australia more competitive,” said Jeremy Knibbs, one of the producers of DAZE.
Daze of Disruption has been announced for the Melbourne Town Hall on November 26.
Verizon Media’s talent program has come to an end for the third year, closing with a hybrid pitch-off event for Musicians Making A Difference (MMAD). The Verizon Media Academy class of 2021, made up of 44 emerging leaders from across Australia and New Zealand media, advertising and marketing industry, were given just one hour to […]
Social purpose organisation UnLtd’s Big Games competition has raised a combined $85,000 for children and young people at risk. Running over five weeks, the competition involved 32 teams from across the advertising, marketing and media industries battling it out virtually for a chance to qualify for the Rocket League final. The tournament culminated in a […]
Stan has announced that the Stan Original Film Transfusion commenced filming in Sydney earlier this week and will premiere on Stan in 2022. Transfusion is a taut, muscular thriller starring Sam Worthington (Avatar) as Ryan Logan, a former Special Forces operative, who is battling to cope with life after the loss of his wife and is thrust […]
According to a decade of data collected by iStock, Australian brands turned to imagery depicting outdated gender stereotypes during the pandemic. Tracking the keyword ‘women’, iStock by Getty Images found that in 2020, ANZ brands and businesses reverted to gender stereotypes. Images of mothers home-schooling were used at almost twice the rate of images of […]
Schwartz Media is congratulating Maddison Connaughton on her three years as editor of The Saturday Paper. Connaughton has decided to finish up her editorship this month. “It’s been an honour to edit the paper,” Connaughton said. “The Saturday Paper is one of the brightest voices in Australian media and I have been happy to see […]
Research from EdBbirdie using Spotify data has identified the most popular songs to study to. After analysing thousands of studying and homework playlists on Spotify, American singer Olivia Rodrigo’s ‘drivers license’ came out as top song to study to. It featured on 48 study playlists, while other top songs included ‘Ophelia’ by The Lumineers, ‘Falling’ […]
Dayna Stewart is the Business Director – Digital Marketing, Media & Creative Services at The Nudge Group. Here, she discusses the challenges that come with building a successful marketing team when working remotely. Before COVID-19 changed the way businesses work, most marketing teams spent their days together in a meeting room collaborating on the next […]
The line-up for the 2021 iHeartRadio Music Festival has been announced as the legendary event returns live in Las Vegas in September. This year, the epic two-day lineup for the iHeartRadio Music Festival main stage will feature performances by Billie Eilish, Cheap Trick, Coldplay, Dua Lipa, Florida Georgia Line, Journey, Khalid, Lil Baby, Maroon 5, Nelly, […]
Shop! ANZ is calling on shopper and retail marketing professionals from all retail related disciplines to participate in the first ANZ Shopper and Retail Marketing Industry Survey in four years. This important research provides a guide of where the retail marketing industry in Australia and New Zealand has come from and what is anticipated to […]