by Greg Penfold

Editor's Note

Disruption begins at home

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For several years now, disruption and innovation have been the buzzwords du jour at every industry event across the economic spectrum. From agriculture to aviation, from frisbee manufacturing to financial planning, the concerns all boil down to effectively the same thing: the way things has been done up until now has been rendered obsolete by advances in technology locked in a feedback cycle with consumer expectations. Steve Jobs may have created the eco-system in which the contemporary consumer now swims, but the digitally empowered consumer is now in the driving seat. This counts triple for the so-called millennial generation and exponentially more for the emerging Generation Z.

What this means for service providers of every stripe is heightened urgency in adopting and adapting to the appropriate technology. What is the appropriate technology? Therein lies the rub. If you are not close to your consumer, you will have no idea what technology is appropriate. It may be the case that the solution to your particular problem is not even technological. A systems innovation could be required. Or a change in mindset.

Consensus is emerging across industries that the consumer, customer or client has to be the reason that companies innovate for. This wisdom coincides with a growing swing in financial planning to a client-centred approach that combines coaching and behavioural economics. This shift is also reflected in the contents of this issue of Blue Chip.

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