Stone & Chalk Directors' Briefing
Paul spoke at Stone & Chalk's first Directors' briefing in his capacity as Stone & Chalk's Expert in Residence. Paul discussed the digital challenges facing companies, and the need to transform, rather than transition. To continue the conversation, directors were invited to complete a Transformation and Transition Quick Questionnaire to identify where their organisation's challenges and opportunities lie, in addition to a beta version of the comprehensive Transformation and Transition Diagnostic.
You can watch some highlights from Paul's speech, view a transcript of the highlights, and see some reactions to Paul's talk, below.
Paul Shetler: Managers in the room, the board directors in the room, they’re in charge of their companies’ destiny, and they have a choice to make - where they want those companies to go.
Right now, we’ve got about 3.4 billion people connected to the global Internet, and growing at about 10% a year. We’re talking about devices being connected, transacting, interacting, creating data, at a rate which is absolutely unprecedented in world history. As things scale up, things also speed up. What the Internet has done to some extent is recreated a state of nature, where you really only have predators and you have prey. And although we talk an awful lot about collaboration, on the Internet, no one cares if you collaborate or not. People care about, ‘Are you serving them? Are you not serving them? Are you winning? Are you losing?’
The people who are entering into this market enter into it to break your model. If you look up, and you’re not actually responding in any kind of real-time, then you run the risk of being like a Kodak or perhaps a Fairfax. Anything which can be tokenised using the Blockchain can then be sold, without the need for an intermediary, without the need for a market maker.
And the ground has shifted under people’s feet. Whether you know it or not, you are a software company. That’s the business you’re in, because that is who you are competing against. You might not be interested in competition, but competition is very interested in you. Start acting like a software company.
Do we want to play defensively, or do we want to really take advantage of the changes that are happening around us, stop just defending our turf, and go global 100%?