They must manage innovation differently. They can set up miniature venture capital firms within their own organization, giving them the freedom to experiment. There are plenty of ideas floating around in every company. People just need a mechanism for expressing them outside of the traditional budget process. Today's companies can succeed at digital strategy, quite simply, by putting them in charge.
Large companies are the most likely to be bumped off by killer apps.
They need to understand that their toughest competition might well come from entrepreneurs and from companies outside of their industry. These new entrants will have no legacy infrastructures, and they will take advantage of inexpensive new technologies for commerce, collaboration, and competition as quickly as they are developed. Cannibalizing your markets recognizes that the existing channels for selling or distributing goods and services will disappear soon. By taking the steps to speed the process, a company can get in early. The cannibals take their brand with them.