How Disruptive Startups Are Changing Enterprises

A powerful combination of business and tech inventiveness and risk-taking among startups is forcing larger, established companies to redefine the way they do business, according to a recent survey from the BPI Network and Tech Mahindra. The report, "Startup Innovation Inspiring Business Transformation: How Disruptive Entrepreneurship Is Driving Corporate Renovation and Reinvention," reveals that these younger competitors are introducing bold, new strategies, greater agility and superior mobility practices while fueled by ready access to growth capital. Through big data, they digitally connect to consumers with social media to create more positive, personalized shopping experiences. All of which is driving bigger corporations to rethink and reinvent the way they engage. "Large enterprises are in fact learning from, and emulating, technology-savvy, fast-moving and opportunistic young competitors," according to the report. "Most notably by becoming more customer-centric in their thinking, by being willing to fail and take non-traditional approaches, as well as by disrupting the status quo through technology innovation." More than 250 global enterprise business leaders and innovators took part in the research.