/Market disruption is inevitable in the age of innovation – but how do you manage it?

Market disruption is inevitable in the age of innovation – but how do you manage it?

Airbnb has disrupted the local Namibian hospitality market, much like it did in other countries. It created a new market and proposition that did not previously exist. There’s absolutely nothing wrong with what they did. Instead of fearing them, the Namibian hospitality industry should embrace them. Consider how these new developments can assist other businesses in achieving their goals. The digital revolution brings opportunities for entrepreneurs and small businesses, opportunities they would never have had even 10 years ago. The digital revolution is not the problem, the reluctance to change is the problem as it has been throughout the ages.

Let’s start by creating an overly simplified scenario. Jack and Jill have guesthouses next door to each other. Both do very well in the current market. Peter, one of their other neighbours, opens a guesthouse too. His guesthouse offers lower rates and is more modern. Both Jack and Jill lose 50% of their occupancy to Peter’s new venture.

Read more at https://www.newera.com.na/2017/12/13/market-disruption-is-inevitable-in-the-age-of-innovation-but-how-do-you-manage-it/