Leading innovation in the disruptive world

People may sometimes overlook these terms and disregard them as irrelevant to their businesses. But for others, they may look at the terms and wonder: is it just a business trend or hype that will eventually die out? Or is it something huge that is going to affect our businesses?
In all honesty, there is no definite or true answer to these questions. But, what I can tell you is this: disruption will one day affect you one way or another without a warning – and this is why you need constant innovation.
Disruption is clear. There was Uber disrupting the taxi industry, Airbnb shaking the world of accommodations, and Netflix taking over film and TV streaming. But, the importance of innovation may differ from one person to another. Often times, it can even be mistaken as simply new technologies.
Let’s take a step back and clarify these terms one by one. According to the Cambridge Dictionary, disruption is “an interruption in the usual way that a system, process, or event works”, while innovation is defined as “(the use of) a new idea or method”.
Simply put, in the world we live in, there is always some form of interruption to our businesses and the way we run it, therefore, we must constantly find new ideas and methods to make sure that the interruptions don’t complete stop our businesses.
But no matter what your perception of innovation may be, there is no denying the fact that we no longer live in the world where companies decide what consumers should buy. In our fast-changing world today, the modern consumers dictate what kind of goods and services – and even the whole consumer experience – should be.
In our disruptive world, change is so important. But the reality is this – many are still oblivious to the necessity of change because we have witnessed all kinds of disruption, from the volatility of oil prices to economic crashes. And even so, our companies have survived. So, why would this ever affect us?
The harsh reality is that no matter how long our businesses have been surviving, there is no guarantee that it would not fail in the near future. Describing disruption would be like what the famous American novelist, Ernest Hemmingway, once said: “slowly at first, then all at once”.
As a business leader, you may still have some doubts about the severity and the necessity to change in this day and age we are in. But my advice to you is to take a step back and reflect on businesses that were once successful but now have ceased to exist. 
Past and current success cannot guarantee of what is to come. In many cases, it can blind business leaders into believing that the usual way of doing things will always be the best way. But, our fast-changing world says otherwise.
The speed of disruption today is different as technology is advancing rapidly and digitalisation has already taken over many organisations. The digital age has pushed businesses to adapt and become agile in order to survive. The key in our digital age is speed as time has become a luxury that many of us can no longer afford.
So, at this point, you should be asking: can you tell how much time your business has left before another company takes you out? If not, is hope dire when disruption suddenly hits your business?
The answer is no – that’s if you choose to take action now. The tides of change is coming in fast. The government in Thailand has responded to the changing world through the Thailand 4.0 initiatives. Business leaders of the private sector have also started taking small steps into initiating innovation and advancement for the nation.
You may have ideas on how you are going to bring your organisation forward through this transformation. Whatever those ideas may be, you, as a business leader, are the forefront of your organisation. In today’s changing world, if we cannot change and cater to our customers, someone else will. 
You must lead your organisation through the transformation and process of innovation, leading them in the disruptive world.

Contributed by PRAPAIRAT PAVASANT, an Executive Director at SEAC, Southeast Asia’s leading Executive, Leadership and Innovation Capability Development Center. 
You can contact her at [email protected]