If you have always operated your business in a certain way, the idea of change can be a scary prospect. But much of this fear comes from the feeling that change is forced upon you and the resulting loss of control.
Modern commerce businesses are more likely to view change as an opportunity to keep evolving and developing to create new sales streams and business areas. This is because they invest in the right things, enabling flexibility and agility to adapt to change.
The Two Types of Change
Change often falls into two camps – iterative and disruptive.
Iterative change is the ongoing improvement of an experience. A good example is Microsoft Word. The core function of the software – word processing – remains the same, but it is constantly being improved with new features added.
Other examples of iterative change include adding useful technology to a physical retail store, omnichannel, and making an e-commerce site faster and more efficient.
Disruptive change is a total reimagination of an experience. A good example is Uber, which used technology to transform the idea of booking a taxi and disrupted the whole sector as a result.
Every business will experience both iterative and disruptive change to some degree. Almost every business will undertake iterative change to improve their operations, drive efficiency, and meet modern consumer expectations. Some will do this faster than others, which may help them to take the lead and set the bar that their competitors must try to match.
Disruptive change can be internal or external. Some businesses, like Nike and Apple, will take the lead and disrupt their sector through innovation and new business models. Others may only experience disruption created by other players – both new and emerging – and must find ways to respond.
