On 13 October 2016, the Rafael del Pino Foundation and Equipo Económico organised the Master Conference "Leading in the age of digital disruption", given by Sunil Gupta.
Sunil Gupta is the Edward W. Carter Professor of Business Administration, Director of the General Management Program at Harvard Business School and Co-Director of the Driving Digital and Social Strategy Executive Program. From 2008-2013, he was Director of the Marketing Department at Harvard Business School.
Professor Gupta's current research area is digital technology, its impact on consumer behaviour and business strategy. Previously his research focused on customer management, pricing, and marketing ROI. He has published two books and over 80 articles, many of which have won awards.
Sunil advises and manages companies around the world. His clients include American Express, Amway, AutoTrader, Avon, BJ Wholesale Club, Duracell, IBM, GfK Academy, Heineken, Henkel, Johnson and Johnson, Kaiser Permanente, LG Electronics, MasterCard, McKinsey & Company, Novartis, Novo Nordisk , NPD Group, Pfizer, SK Telecom, Sanofi, TD Bank, Telefonica, Turkcell, Unilever and Vodafone.
Summary:
On 13 October 2016, the Rafael del Pino Foundation, in collaboration with the consulting firm Equipo Económico, organised a conference by Sunil Gupta, Edward W. Carter Professor of Business Administration, director of the General Management Program at Harvard Business School and co-director of the Driving Digital and Social Strategy executive programme, on "Leading in the age of digital disruption". According to Gupta, we are living a digital revolution that not only affects start-ups, but also traditional companies. This revolution makes it possible to offer new products and/or services, such as chips to detect diseases, contact lenses that detect eye problems, or dentures made by 3D printers. All of this affects established companies. Consumers, moreover, adopt new technological advances quickly, much faster than they did in the past. Businesses must therefore be aware of the implications of the digital revolution. This revolution is unfolding in five stages. The first brought e-commerce. The second was about search and access to information. The third brought social networking. The fourth is characterised by the emergence of smart phones, which are changing many ways of doing business, even in geographical terms. And the fifth is the internet of things. The impact of this revolution is much greater and affects, or will affect, any sector we can imagine, because it redefines space and markets. For example, customers are no longer looking for product information in TV commercials, but on their smart phones. To adapt to this environment, companies need to reinvent their businesses. Gupta offers several rules for doing so: 1. Redefine the scope of the business. 2. Find new ways, or hidden ways, to capture that value. 3. Reduce fixed costs and improve asset utilisation. 4. Develop products as services, which implies a transition from a product-oriented strategy to a platform-oriented strategy. 5. redefine products as platforms. 6. Utilise big data analytics and artificial intelligence.
The Rafael del Pino Foundation is not responsible for the comments, opinions or statements made by the people who participate in its activities and which are expressed as a result of their inalienable right to freedom of expression and under their sole responsibility. The contents included in the summary of this conference, written for the Rafael del Pino Foundation by Professor Emilio González, are the result of the debates held at the meeting held for this purpose at the Foundation and are the responsibility of the authors.
The Rafael del Pino Foundation is not responsible for any comments, opinions or statements made by third parties. In this respect, the FRP is not obliged to monitor the views expressed by such third parties who participate in its activities and which are expressed as a result of their inalienable right to freedom of expression and under their own responsibility. The contents included in the summary of this conference, written for the Rafael del Pino Foundation by Professor Emilio J. González, are the result of the discussions that took place during the conference organised for this purpose at the Foundation and are the sole responsibility of its authors.
