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Market disruptors may be nothing new, but that doesn’t mean we shouldn’t be excited about the emergence of a boundary-breaking new business. After all, many of the products and services that we use daily, like Amazon, Uber and Spotify, began as ventures that aimed to radically change the way their industries operated. And in 2023, there will be no shortage of market disruptors: new services and products are created every day with the lofty goal of transforming industries from healthcare to entertainment. Hello, AI-driven content creation. We see you.
While the rise of a revolutionary company is thrilling to witness, market disruptors can also pose a unique challenge. Management consultants—the experts who help business leaders solve large-scale problems and make decisions that protect their organization’s future—always have an eye on the competitive landscape, but it’s especially critical for these strategists to keep a finger on the pulse of market disruptors. The innovations of a scrappy start-up can pose a threat to even the most established corporation.
With the right research tools, though, brands can turn these threats into opportunities. By examining emerging trends, investment data, and industry commentary, consultants can develop a holistic understanding of looming market disruption and plan ahead. And the company that senses change on the horizon and reacts accordingly is well-positioned to ride that growing wave of disruption to success.
Read on to learn how a robust research tool like Nexis® can help management consultants uncover the information they need to form a rounded view of opportunity and strategy.
The corporate world is ever-changing, with expansions, mergers and acquisitions being negotiated at a rapid clip. For a management consultant or strategy advisor, keeping a close eye on these changes is particularly important—and often illuminating. The announcement of an acquisition or large corporate investment could hint at a competitor’s plan to grow into different markets or introduce innovative technology to the industry. How an established company responds to these advances by competitors can make or break their hold on the market.
With Nexis, consultants and strategists can easily stay abreast of the major changes and investments in their industry through access to thousands of publicly filed mergers and acquisitions documents, regulatory cases and patent filings. What’s more, these documents can be further filtered by sector and country, so you can zero in on the precise competitive intelligence you need to stay ahead of the curve.
MORE: 4 Reasons You Need a Top Research Platform for Financial Professionals When Engaging in M&A Activity
In the business world, it’s true that knowledge is power—but management consultants know that expanding their knowledge with the RIGHT information is essential. Making strategic business decisions in response to market disruptors requires comprehensive industry analysis with data corroborated by a variety of sources. And in the fast-moving corporate world, swift and decisive action necessitates that the research process is as efficient as possible.
Fortunately, Nexis makes it easy for analysts to do their due diligence by offering curated, industry-specific reports that detail key market trends, economic forecasts, competitive forces, and leading companies in the industry. With insights gleaned from a vast collection of more than 40,000 premium and web sources (including media outlets, business information, patent details and legal documents), management consultants can rest easy knowing they’re using the most current, accurate data possible to inform their decision-making.
MORE: Disruption Has Become the New Normal
Staying on top of the latest technology trends should be a primary focus for any organization that prioritizes growth and progress, but it’s particularly important when it comes to monitoring market disruptors. And it makes sense why—often, what makes a company “disruptive” is how it transforms the industry with a groundbreaking concept or revolutionary technology. Take artificial intelligence as an example: talk of AI only hit the business world in the last decade or so, but now it’s being used to fight climate change, cure cancer, and augment the workforce. And, let’s not forget ChatGPT’s explosive entrance to the field, and all of the subsequent benefits and security threat concerns . Talk about disruptive!
Monitoring how technology trends and industry-specific commentary are playing out in the news can give management consultants, and their businesses, valuable insight into the tools and tech that market disruptors may use to radically change the competitive landscape. Not only that, but consultants can use trend data to evaluate how their organizations can become disruptors themselves. With content from thousands of media outlets and trade publications (including paywalled sources), Nexis is the go-to database for the latest updates in any industry. And strategy professionals can stay on top of the coverage that matters to them—including company, financial, and industry information–with customizable, easy-to-schedule alerts.
The corporate landscape is swarming with disruptors that promise radical transformation, but navigating uncharted territory is easy with the right research. By harnessing the power of a tool like Nexis, management consultants can feel confident that they’ve left no stone unturned in identifying opportunities in the market and developing a well-rounded strategy to guide organizations to success.
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