Growing Traditional Businesses In Age Of Disruption
During the third edition of BW Businessworld 40 under 40 a discussion on growing traditional businesses in the age of disruption.
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In this age of disruption, the discussion was around how to grow traditional businesses and how traditional businesses can become a part of the growth bandwagon by keeping disruption as the focal point. The session titled "Growing Traditional Businesses in the Age of Disruption" consisted few personalities who are in the forefront on disruption through traditional and innovative means including Abhinav Khare, CEO, Asianet News Network; Gaurav Jhunjhunwala, Director, S Chand Group; Ryan Pinto, CEO, Ryan International Group of Institutions; Amit Bagga, Co-Founder & CEO, Daryaganj Hospitality; Tuttu M Tomy , Creative Director, Uberdogg design; Nitin Tewari, Director, Together at 12th & BarTrender OPC. The session was moderated by Salil Kapoor, Independent Director, Simpa Networks. The panel consisted of leaders from education, publishing, restaurants, restaurant designing, media, etc.
There seems to be a change in the business models of companies where they are leveraging technology to disrupt the value chain. Start-ups or new ventures are challenging existing leaders. About disruption in the media space, Abhinav Khare said “Three years ago some people said that digital will fund the traditional business for us it is already happening. In the media content is the key. Finally, it is about profit and loss. Media is about content as long as you are creating good content the disruption is not really going to happen as long as you are aware of the distribution platforms and you are leading them.”
While discussing disruption in the publishing space Gaurav Jhunjhunwala said “When we talk about deception in business, we are getting weak signals from left right and centre. These weak signals turn into strong signals that eventually become behemoths in the sector. Mistake a lot of people to make is ignoring these weak signals. We have invested in a couple of start-ups that may have potential going forth and if we get stronger signals coming from these start-ups we can give them some strategic benefits and see how we can weave them in our company or industries fabric.”
On being asked about disruption in hospitality business Amit Bagga said “Disruption is happening through cloud kitchens, companies like Swiggy have started their own cloud kitchen. It is more convenient. However, the traditional way of celebrations will not die down.”