02 May '17, 10pm

Dealing with digital disruption - THE BUSINESS TIMES

Dealing with digital disruption - THE BUSINESS TIMES

THE disruption of existing ways of doing business is gaining momentum. Uber and Grab have changed the mindset of transport services, and AirBnB has disrupted the holiday accommodation experience. Underpinning much of this disruption is the adoption of technology together with the “sharing economy”, whereby networking and social contacts are leveraged in new and innovative ways. Small and medium-sized enterprises (SMEs) need to embrace the opportunities being offered by such disruption. While startups will pose some threat to incumbent businesses, the reality is that in the long term, it is customers’ demand for alternative ways of obtaining goods and services that will drive businesses to either adapt or decline into irrelevance. Before adopting any strategy to embark on a disruptive business model, businesses should be mindful of several legal issues: (a) dealing with reg...

Full article: http://www.businesstimes.com.sg/magazines/the-sme-magazin...

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