Digital Disruption's Impact on the American Economy, Era or Revolution?
Digital, Digital Disruption, and Digital Transformation are bouncing around the social networks like super balls dropped into closed warehouses.
The Digital issue is far bigger and misunderstood than the social networks, boards, leaders, or recruiters building Digital Transformation practices recognize.
Digital is being through about haphazardly. Digital is mislabeled, misunderstood, being called a Fad, or ballyhooed a waste of time. Lets tackle Clarity. (A dictionary is helpful),
- Transformation: The act or process of transforming. Change in form, appearance, nature, or character,
- Innovation: The act of innovating; introduction of new things or methods.
Economic Indicator Contributing Attributes,
- American’s live in a Free Market Economy. Its the essence of capitalism. Its the core of Americanism,
- American’s believe in Charles Darwin’s, “Survival of the fittest” theorem,
- American’s educational system is a heavy math and science focus,
- American’s value memorization and recall over vision and instinct,
- American’s Market is mature, advanced, and globally enviable,
- American culture is considered complacent,
- America responds to Wall Street's demand for now daily performance based on High Speed Trading Algorithms. The Investment Market drives cost management and predictable, short term performance requirements,
- America is a seasoned skill outsourcer,
- American Businesses and Wall Street are very focused on Metric performance,
- America hasn’t relied on Vision since the Industrial Revolution.
- It is anti American to regulate free markets, we can close our physical borders but not our Cloud borders,
- Just as American Business receives tremendous global capabilities from Digital Value, so do Foreign Businesses receive valuable American Market Access,
- "Emerging Countries” are growing up within the technology era, they were “born’ into innovation and depend on Vision for survival,
- American corporate outsourced a tremendous number of “low skills” to foreign countries,
- Foreign Businesses will move from cheap labor into cheaper digital,
- America lost the blue print to digitize many skills into processes when we outsourced,
- Foreign Business learned how to build these blue prints,
- America opened its higher education doors to foreign students,
- American Students are value for their Metric capability and are not collectively hungry compared to foreign cultures,
- American business routinely employ and educate foreign nationals on american business practices, capabilities, and capacities,
- American Corporation hire foreigners for strategy jobs all the way up to Chief Strategy Officers.
American Market Realities,
- The American market doors are wide open and can't be close,
- Digital is not "arms length”, its inside the house,
- American lacks the critical Vision and Strategy skills at a time when they are most needed.
- Digital is showing every sign of becoming more than a “Dot.com” or “Open Systems” Era.
- Digital is shaping up to be a Revolution like the Industrial Revolution. But this revolution is based on Digital Skills, Digital Reach, and Digital Leverage.
Meaning, Digital Disruption is a real threat to the American Economy.
Digital innovation provides equal global advantages to all the global market players. Digital is a 2-way street,
- Does not show a preference for Old or New companies,
- Does not care about Origin or Culture,
- Is difficult to regulate,
- Is easy to propagate.
Consider the abundance and rate of Digital Innovation occurring within every market sector and ask this questions, "given these new digital technologies are there limits to application reach"? Cloud Networks are innovating and expanding. Network access points can be deployed via drones. Global Access coverage is expanding exponentially.
- Digital solutions that enable doctors to remote diagnose and check up on patients already exist? If a Harvard trained doctor living in India could provide Health and Wellness for 75% less than a domestic doctor, what number of Doctors residing in India would be added to HMOs. Market Disruption.
- How about automotive services? Today's car engines are already digitally enable for diagnostics. The Tesla car already automatically down loads software updates wirelessly for their GPS map, and various car feature and function configuration improvements. Could German Car companies not do the same and turn BMW / Mercedes dealership services centers in Auto Parts stores? Market Disruption.
Every Market Disruption possibility requires a counter punch based vision that leads Companies to safe defendable ground before disruption occurs.
- Playing the innovation war does not guarantee defendable positions,
- Digital Expansion can not be stopped in a Free Market,
- Transforming Companies into Disruptors themselves is the road to longevity.
Digital Transformation into New Defendable Markets is vital to the American Economy.
It is incumbent on American Business Leaders to defend themselves and thereby our way of living.