In the digital age, incumbents are constantly facing disruption threats from digital attackers. Incumbents are born in the predigital era and have been in business for many years, in one or more than one industry. They have healthy customer relationships, strong market branding, and the power to change the dynamics of an industry. They are generally mid-to-large sized. Most of them have global operations. There is a peculiar corporate culture, with a systematic organizational hierarchy. Work is mostly done in a more conventional way following set processes, procedures, and patterns. They have the “incumbent’s advantage” to exploit new technologies to generate new revenue streams or improve the existing ones.
Digital ...
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