Disruptive innovation will likely upend a wide range of industries, including utilities, over the coming years. And few companies today feel they are ready for the consequences.
Accenture research of chief strategy officers around the world found that disruption-ready companies are both strategizing and operating in remarkably different ways—an approach Accenture calls thriving on disruption.
Today’s most prepared companies are taking a remarkably different approach than their peers. That approach is based on strategic partnerships, platform business models and open collaboration.
Learn how utilities can prepare for devastating innovation and thrive on disruption.
All utilities can attain a greater degree of comfort by borrowing from the playbook of today’s leading strategy executives. See three new imperatives that will define successful businesses in the era of devastating innovation:
Don’t face disruption alone.
Deepen and broaden alliances with a diverse array of companies in and beyond the industry.
Make yourself indispensable.
Become a critical part of the integrated solutions that customers demand.
Embrace operational flexibility.
Consider what organization changes will be needed to be more collaborative and open.
Managing director, Accenture Institute for High Performance
The Accenture Institute for High Performance surveyed 561 chief strategy officers between November 2015 and February 2016. Our goal was to identify the attitudes and behaviors of companies that reported being most prepared for disruptive innovation in their industries.
The questionnaire was a combination of open-response interview questions as well as closed-response single- or multiple-choice selections. Participating CSOs represented companies headquartered in 10 industries and 11 countries, all with reported revenues of more than US$1 billion.