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Business Today, Disrupt or Die (Part 2)

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A disruptive innovation is an innovation that creates a new market frontiers and value network. It eventually unsettles an existing market and value network, displacing established market leaders and alliances, and overturns the traditional business methods and practices. No one can deny the fact that we are living in the era of disruptive changes.

There are unimaginable disruptions going on in the business place today, and more are yet to come. Traditional businesses are failing and may eventually disappear with time.

After all, there are not known business models that will last forever. That is why they are constantly disrupted.

What is the way out of this disruption that potent both great opportunities and threats? Simply reinvent your business model that will deliver greater value to the customers from an advanced context. In order words, you are to recognise inherent potentials of already known business activities using technological innovations (in filing the available needs in your sphere of business).

Here, you put known and unconnected ideas together to birth something superior that delights the customer more than anything else(s)he can find. In fact, you must find strangeness in the familiar, and look where others don’t by re-thinking and reworking your strategies based on prevailing realities.

Every enterprise must get dissatisfied with some of its business models and methods, and rebelliously create a super-hybrid solution for the customers, and by so doing sustainably grow and expand the business.

Therefore, you are to manage the present, envisage the future of your business in the light of technological innovations, and recreate it in order to wow your customer, keep existing customers, and attract more customers.

Disruption and continuous disruption in every sphere of life and business is inevitable. Every model of existing businesses today are ‘disruptible’, from how a business is formed to how it is managed or run to how it serves its purpose. It may be partial and absolute disruption, but one must happen to your enterprise. It’ just matter of time. Even the least imagined business system or process like distribution channels of company goods or products is ‘disruptible’, and will be disrupted.

The question is, how are you disrupting your entire business systems – your customer care service, your sales, your marketing, your operations, your product distributions, and your other services, knowing that some of the business rules, which were necessitated by the present business age have changed? We are no longer in the industrial age, which centred on product and ‘productization’ but on technological age, which is about the customers and ‘customisation’.

Disruptive products and services customize. In other words, disruptive companies focus on personalised holistic-customer-experience. This method makes complex processes simpler, cheaper and more convenient for the customers. This has become possible with 3D printing technologies, which is becoming cheaper and accessible every wake of day.

Okendo Lewis-Gayle rightly put it: ‘By leveraging technology and innovative business models, disruptors transform complex and expensive products into simpler and more affordable ones’. As a matter of fact, convenience sells today more than before, and it sells big time!

We have more and more enlightened buyers today than in the history of man. The implication of this is that today’s customers want to be served faster, better and with dignity. To stay on key, we must constantly ask; who are your customers? What do they value?

And how do you deliver that value to them? You must also ask what is possible if your skills, experiences and assets are combined with technological innovations in new ways for the purpose of serving customers better?

Customers’ values keep changing with increasing technological innovations. Have you considered the future of your business in the next five to ten years? What do you think is the next disruptive product or service? It is customers that define the future of any business, including yours. They won’t hesitate to turn their back on you if you fail to disrupt. Their body language is simply saying: disrupt or we quit, and when we quit, your business dies!

Tony Ajah is a Business Growth Strategist and the Director of Nigeria Innovation Summit. [email protected]


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E-Business

NITDA, NIMC Partner for Seamless Data Exchange Capabilities

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National Information Technology Development Agency (NITDA) and the National Identity Management Commission (NIMC) have announced a collaboration on National Public Key Infrastructure (PKI) and Digital Public Infrastructure (DPI) to enhance synergy between digital identity, payment ecosystems and secure seamless data exchange capabilities for Nigeria.

NITDA, NIMC Partner for Seamless Data Exchange Capabilities

l-r: Kashifu Inuwa, Director General of NITDA, and Bisoye Coker-Odusote,  Director General of NIMC, during the meeting at the NIMC headquarters in Abuja..

NITDA, which made the announcement on its X handle, said that the collaboration was to further strengthen Nigeria’s digital economy in line with President Bola Tinubu’s Renewed Hope Agenda,

During the meeting, Kashifu Inuwa, director general of NITDA, and Bisoye Coker-Odusote, director general of NIMC, with some management staff of both organisations, discussed various initiatives, which include building DPI stacks for a secured and seamless data exchange and forming partnerships to transform the national identity system.

This collaboration also aims to harness the potential of the innovative ecosystem and emphasise the use of public-key infrastructure (PKI) to drive digital transformation in Nigeria.

To ensure a smooth implementation, a 12-man committee was set up.

This committee will play a crucial role in kickstarting and harmonising the initiatives and is expected to deliver a comprehensive implementation report within the next 4 weeks.

 

 


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Expert Urges FG to Harmonise NIN, BVN to Tackle Crimes

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Noble Ajuonu, head, Sydani Technologies Ltd., has urged the Federal Government to harmonise National Identification Number (NIN) and Bank Verification Number (BVN) to tackle crimes and insecurity in the country.

Expert Urges FG to Harmonise NIN, BVN to Tackle Crimes

Ajuonu made the call at a media roundtable, organised by Sydani Group in Abuja.

The News Agency of Nigeria (NAN) reports that the roundtable focuses on driving sustainability through a comprehensive analysis of Nigeria’s key development areas.

Ajuonu said that Nigeria could overcome its security challenges and pave the way for a safer, more secure future for all Nigerians by embracing technology and implementing practical solutions,

“We need to harmonise data, prioritise seamless integration of databases like NIN, BVN, and security agency records, establish clear protocols for data sharing and access, with robust safeguards against misuse,’’ expert said.

According to him, the unified data pool will empower intelligence gathering and targeted operations.

He also called for investments in smart surveillance, intelligent video analytics software, training of personnel in data analysis, interpretation of data in real-time to combat crimes.

“There is need to implement a legal framework for call interception in criminal investigations, with strict oversight to prevent abuse, encourage community cohesion, training of tech savvy security personnel with tech-enabled tools.’’

Ajuonu also urged the government to address infrastructure deficit in technology, saying that technology was all encompassing to address insecurity.

“According to the National Identity Management Commission (NIMC), as of December 2023, only 104.2 million Nigerians had been enrolled for the National Identity Number (NIN).’’

Ajuonu added that over 122.2 million citizens left uncaptured for NIN were people in rural areas where enrolment centres, digital services were limited.

“Most crimes are being perpetuated from rural communities and this lack of comprehensive identification creates a gap where elements not captured in the national database can constitute public nuisance, crimes.

“There is the inadequacy in the integration of NIN, BVN and Voters Identification Number (VIN).

“Advanced call interception and analysis tools, used successfully in other countries, could provide invaluable insights into criminal networks and operations but infrastructure is lacking,’’ he said.

Also, Mr Godfrey Petgrave, the Agricultural Expert, Sydani Group, called for empowerment of smallholder farmers with access to finance and training to enhance productivity.

According to Petgrave, Nigeria requires policy reform and institutional strengthening to improve agricultural practices and embrace digital agriculture solutions to address food insecurity.

Mr Akolade Jimoh, another expert of the group on health, advocated for expanded community-based health insurance programmes for rural and underserved areas.

Jimoh added that the country needed to encourage Public Private Partnership to revolutionise products design and quality improvement on health services.


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Konga launches Infinix Brand Week with Incredible Deals

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Konga, Nigeria’s leading composite e-commerce group, is thrilled to announce the launch of amazing deals at its Infinix Brand Week. Infinix, a leading global smartphone brand known for its innovative products and cutting-edge technology promises exclusive discounts and special offers on select smartphones, marking an exciting milestone in the realm of online shopping.

Shoppers can expect nothing short of extraordinary deals on a wide range of Infinix products, all available exclusively on the Konga online platform. With discounts of up to 30% off, this partnership between Konga and Infinix aims to redefine the shopping experience for tech enthusiasts across Nigeria.

Konga Brand Week has become synonymous with excitement and unbeatable deals, and this year’s edition is no exception. In addition to exclusive discounts on Infinix smartphones, shoppers can explore a diverse array of products across various categories, including electronics, fashion, home essentials, and more.

“At Konga, we are dedicated to providing our customers with the best shopping experience possible,” said Rita Ohaedoghasi, VP Marketing at Konga. “The Infinix Week during Konga Brand Week allows us to continue delivering on that promise by offering incredible discounts and special offers on some of the most sought-after smartphones in the market.”

To stay updated on the latest developments and exclusive deals during Konga Brand Week, shoppers are encouraged to connect with Konga across all platforms, including social media and the Konga website. Don’t miss out on this opportunity to score big savings and elevate your tech game with Infinix and Konga.


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