The Swedish companies are faced with several problems and desperately in need of professional help in solving their problems. They are quite desperate to solve these issues and are even looking at foreign help in some matters.
One of the major issues is digital disruption on consuming goods. Digital disruption can be explained in simple terms for a layman. It is the change that needs to be implemented for a new digital technology or business model that affects the existing system and service. The main cause of the digital disruption is the increase in the use of technology in almost every task. From mobile phones to automated devices, almost all tasks are performed with the help of digital technology.
A very good example is the digital disturbing in the media industry. The media and entertainment industry has been transformed from what it was about 10 years ago. This is mainly due to the likes of Amazon, Netflix and Hulu Plus. This means the consumer’s method of accessing media has changed along with the method in which advertisers sponsor them.
Digital Disruption in Sweden
Most companies have a business development model which is based on their choice of methods made a long time ago. However, the world is changing at a more rapid pace than earlier and there are many changes that just occur overnight. So, implementing the new innovations means effectively re-writing the rules for the business model. One should not be very surprised if a business disappears overnight due to stiff competition. There are several companies that have lost their position for the lack of keeping up with technological developments like Kodak, Nokia, and Blockbuster. Amongst the companies causing the disruption are firms like Uber and Airbnb. Some of the firms have begun to realise the need to take action and are taking necessary steps to stay ahead. However, if such companies fail to take any steps or hesitate, they are at risk of falling behind and never being able to catch-up.
The digital disruption in Sweden is now quite evident. More than 50% of the Swedish companies are now complaining that the digital disruption is going to affect their business in one way or the other. It is also estimated that over 10% of the Swedish firms already have a plan in place to combat digital disruption. The awareness about digital disruption is growing and it is expected that it won’t be soon before most all firms feel the pain.
Thus, the basic issues faced by the Swedish companies is how to implement the technological changes in a way that the firms will benefit from it. Once implemented, these firms need to deal with the digital disruption that affects their existing operating model. Any strategy they create will affect the entire firm and therefore, this would mean making sure the entire firm (all employees) are briefed regarding the changes taking place due to the digital disruption. New innovation means new business model in most cases.
Implementing new business models
As more Swedish companies realise the need to implement a new business model while facing several issues like the digital disruption; they also realise that it would mean a very big change. So, for the Swedish firms to continue to be successful, not only they need to implement a new model to incorporate the digital disruption, they also need to get it right to survive. This has led many Swedish firms into taking help from foreign experts on the subject. There are many firms that go quietly on their terms with foreign experts to ensure they can implement a new business model with the advice of such experts to stay ahead of the competition.