Disruptive competitors are chipping away at traditional businesses using technology and innovative business models. To counter the wide-sweeping impacts, traditional businesses must also transform. Just as Airbnb has widely disrupted the hotel industry in several short years, ride-hailing services such as Uber and Lyft are also disrupting the taxi industry. These examples also demonstrate the potential speed of disruptive models, putting additional pressure on the competition.
A 2018 survey of 1,300 CEOs by KPMG showed that 71 percent of them are personally ready to lead a radical organizational transformation.
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