BE A WINNER IN DISRUPTION ERA!
There are diverse perceptions on “disruption” and no one exact definition for the term. To make it clear, disruption is nothing but, it reflects the innovation way of work process or business model by discontinuing or destroying current practices and shift to modern business models. All in all, disruptive era can be defined as an era of technologies’ conglomeration that alternate the fundamental of business activities. It shows the significant impact from Industrial Revolution 4.0 (IR 4.0), that leads to rapid development of a nation.
A Germany Scientist, Klaus Schwab intensify the technological revolution brings alterations on way we live, work and relate to one another in its coverage and complexity. It been proved in today’s working environment which obviously differ with conventional working styles in companies especially during this phase of COVID-19 pandemic. Consequently, it leads to major disruption in businesses that derives from various structure to change business models and its practices, many surveys were undertaking and the results emphases that technology were majorly mediating changes occur in business models. It been supported by literatures which enhance the interplay between technology and business. Starting in year 2020, across the globe many evident for this transition were recorded from manual to online working mode, alternate work setting (work-from-home). The transition might focus due to the spread of disease; however, transformation of IR 4.0 helps to shift digital smoothly.
Further, IR 4.0 also determined as the profound transformation of business models by enabling the fusion of virtual and real worlds and the application of digitization, automation and robotics in manufacturing, Gotz and Jankowsa (2017). Basically, the authors explain that IR4.0 were majorly influence manufacturing sector, due to the necessity of Artificial Intelligence (AI) in production site like autonomous robots and machines, and it disrupts the needs of manual workers and forklifts at sites. Apart from that, digitized working mode caused industries like agriculture, textile, healthcare and service are no exception from this transition.
There are many industries briskly and innovatively adapt changes and grab the opportunities to develop strategies in order to sustain. Everyone was witness for the massive changes from media, taxi services, retail and other sectors as well where it shifts our paradigm to look beyond the current application to be sustained. It’s undeniable that every change has its pro and cons. Here the sad truth is that by merging the virtual and real world, drastically reduced the human workforce working ability and substitute it with systems to automate work flows. Unfortunately, it increases nation unemployment rate and many were impacted and led behind due to the transformation. Nevertheless, there are diverse sectors experienced IR4.0 changes for betterment, like transportation, media, education and banking industry;
Transport / Mobility
The existence of Uber and Grab fundamentally disrupting the taxi service business either in local or foreign countries. 90% of taxi business were dropped due to this disruption besides caused the taxi drivers lost their source of income. People assume Taxi as traditional transport service and the things wondering is in short span of time Taxi possibly could become like rickshaw that stays as old memories. On the other hand, this Uber and Grab also has the disruptive potential due to the production of autonomous car, shared car, or electric and self-driving car. It’s a cycle chain process that replace new with the current mobility. Besides, automation in vehicles bring huge impact in total community living style, in aspect of road safety, urban planning and community interaction. Moreover, potentially there will be more gas stations and electricity grids compared to petrol station in nearest future.
Media
Media seen high level of disruption, whereby previously there are only limited platform to deliver messages, like in printed/physical paper, television and radio. But, in current practice there are diverse applications and medium (Facebook, Twitter, YouTube, Instagram, radio/tv livestream) these handles enable media industry to deliver information and update news in a blink of eyes world widely. It enables them to perform better and bring the news in live, besides the changes make them to sustain along with the digital transformation IR4.0. The disruption derives from many forms as like cost reduction pressure and rising popularity of connected devices that change the media’s business models.
Education
Education sector is another industry that face huge changes in teaching and learning process. Traditionally, schools and universities were restricted students in the usage of technologies due to the mindset of “destroying” student, especially in less exposure’s areas. However, the disruption here is again refer to the technology development that require students must be capable to hit the benchmark set by the Ministry of Education. Thus, projectors, laptops, wide assessing of internet and other teaching assistance equipment help students in developing their self. Moreover, pandemic COVID-19 cause students to learn from home, and it induce the needs to utilize gadgets for their online learning classes. Even, this process quite uncomfortable in the beginning but slowly students are adapting to the changes and it’s believed that would benefit them in future endeavours especially when they enter workforce.
Banking
The chain process is disrupted the entire banking industry, especially in currency, fund transfer, payments and financial advice. Olden way of banking system play role only for specific scope and had very limited coverage of facilities. In digital transformation IR4.0, they came out to be competitive advantage among competitors in order to provide convenient and user-friendly facilities for customers. It’s the elements to gain customers satisfaction and make them to be long-lasting contributors to the bank. The facilities specifically on online banking system. It’s so much convenient nowadays for everyone to purchase products or services by paying through online banking. Malaysia among the country witness the skyrocketing in online purchasing from numerous online shopping platform during pandemic such as Lazada, Shoppe, Food Panda, Grab and etc. Somehow, the digital transformation IR 4.0 helps people to go cashless as well reduce the potential transmission of COVID-19 disease among the community.
To cater these demands of changes, everyone needs look into and adapt to the new era of globalization, from school students to policymaker. Thus, it believed that nothing is impossible and changes need to be adapted for a better future.
WAYS TO EMBRACE INDUSTRIAL REVOLUTION 4.0
Physical and Mental Agility
The awareness of changing world to be more digitalized should be implant in every mindset to enable companies or industries has the ability to adapt quickly and change according to the global needs. If only one element were agile, it might possible that the particular industry might not capable to create the transformation and probably could left behind. This is the reason why many companies were shut down in this disruptive era. For example, Kodak that failed to be sustained due to the global digital transformation which they are rigid. Thus, the organization itself could practice crowdsourcing in order to obtain data and information to expose the awareness to people in organization.
Invest in future
Many companies still lacking on this, investment not necessarily in the tangible aspect (funds) but could be invest intangibly like motivation, team spirit and specialized management that up-to-date with the current era demands. It helps the organization to be align with demands as well enable to achieve their vision, mission and goals. Since, technology keep on developing every single day thus management should embrace the digital transformation and make continuous improvement in the aspect that could help the company grow. Investing in employees to be digital literacy should be the essential plan to cope up with the revolution. Adding micro-learning concept to bring macro results. The concept of micro-learning costs zero with video-based learning. It will assist the companies in cost reduction to outsource while still able to grow, especially for the companies that facing fund scarcity. Moreover, it helps the organization to communicate and collaborate focus on management to learn how to survive and sustain in disruptive era besides endure with the challenges to be more competitive advantage.
Re-design strategies
Considering technology was fundamentally mediate the changes, companies need to re-design their current business models and strategies to be aligned with modern business outlook as well to cater the digital transformation demands. It is crucial to re-design strategies to be sustained. In this era of disruptive, able to notice the downfall of companies that failed to re-design/ re-model their strategies to cope up with current needs. Thus, create comprehensive strategy treatment of digital disruption is crucial in order to enhance company backbone structure and operate successfully. If company were lacking with the expertise in developing new strategies, then probably they should outsource agency that could help them to meet the current needs. Other than that, company may also collaborate with agencies that generate income and provides the resources with an interest-stake order. It is important because the agency usually are the professionals and expertise in market needs analysis, so it would be beneficial to understand and predict the future trend of technology to incorporate into company’s business activities.
In a nutshell, even above discussion was emphasized to industrial’ people, but literally every one of us should adapts to the revolution. It’s because the evolvement of technology is improving every single day and it’s ultimately influencing our daily activities, from gadgets to cookware’s. Thus, by re-shape our live and work into IR 4.0 empower everyone to be a winner in a disruptive era!
