Disruptive innovation is the term given to any type of concept that will disrupt your corporate culture in the hopes of improving profits and providing benefits that wouldn’t be possible if old methods stay in place. You have to look at the bigger picture in terms of the length of time the disruption will take to run its course as well as the benefits that your business will receive in the long run. The key is to identify the emerging risks and take the actions necessary to make sure the implementation goes as smoothly as possible.

Different Types of Disruptive Innovations With the Corporate Culture

Cyber threats, resistance to new methods or other types of change, and digitization are three of the most recent types of disruptive innovations that have taken the world by storm. For the most part, all three offer exceptional benefits for those who choose to use them. The problem is getting past the disruptions that will have to be dealt with while these new concepts are being implemented. There are many types of disruptions including, public opposition, changes in manufacturing methods, the cost of new equipment and training, and teaching employees how to operate new equipment and work with new protocols.

Emerging Risks

The culture within the corporation needs to be unified so that all aspects of management work together to identify emerging risks and handle them appropriately. Emerging risks are usually identified prior to the implementation of the new system or technique, but occasionally the risks begin to appear as the process of implementation moves forward. Many times the cost of a project can be overwhelming, causing layoffs and financial stress throughout the company. The risks must be dealt with head-on so that their impact is minimal and the benefits begin to appear on the horizon in as short a time as possible.

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Get in Touch with Roman Galey

Contact Roman Galey today for a comprehensive look at your business insurance solutions needs. He can help you choose the right kind of coverage for your business, so you can rest easy knowing your insurance coverage is sufficient for the needs of your business today, and as it grows.

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