Tuesday, 19 January 2016

The big bang disruption theory- Nigeria Experience


Nigeria businesses are yet to fully comprehend the power of the disruptors courtesy of the internet growth powered by mobile phone penetration.

The big bang disruption is an unpredictable change that could render a whole product or production process obsolete as a result of unconventional innovation. 
The introduction of the iPhone  and Android OS gave the previous popular OS less chance to compete. The launch of Google map free service gave the GPS companies less options. Advancement in mobile phone technology has put desktop and laptop at risk.

Big brands are uncertain about the future of their business especially the internet companies. The fear of the unknown-in case some one somewhere would launch something that could give them less chance to compete.
The growth in internet penetration in Nigeria has open great opportunities for many startup while the hitherto big brands are struggling. The Nigeria Communication Commission  recently announced that active internet lines are over 90 million.
The implications is that many transactions will be done over the internet using mobile phones. This has affected many sectors

 Pioneer online stores like Jumia and Konga became giant brands making sales worth millions daily. These brand became households names within a short time. 
Many traders will have less chance of survival in Nigeria in few years. Online stores will keep gaining more popularity as the companies work on building trust.

Print Media 
 The revenue from print media keep declining as more people prefer reading daily news online. Popular online news platform and blogs like Sahara Reporter, Naij, linda Ikeji blog and Nairaland forum are the disruptors.
Traditional media houses are battling and frustrated. The owner of Newswatch magazine, Newswatch Newpaper and National Mirror, Mr Jimoh Ibrahim sacked the Managing Directors of his media outfits on live TV at The Energy lectures, 5th GMD conference in Abuja for been unable to generate enough money to pay staff despite heavy investment. This is one of the many reaction as the result of the drop in revenue of the giant print media outlets.

The Telecom firm are experiencing their own fair share of the disruption. Revenue from SMS and voice call is declining courtesy of Watsap, BBM messaging and voice service. The Telecom firm even threatened to stop skpe in 2015.

As consumers prefer convenience, cheaper and authentic products, better business process will be unearthed Nigeria inclusive.

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