DISTRUPTIVE INNOVATION
In business theory, a disruptive innovation is an innovation that creates a new market and value network and eventually displaces established market-leading firms, products, and alliances. https://hbr.org
- Disruptive innovation refers to a type of innovation that creates new markets and value networks, ultimately disrupting existing markets and displacing established market leaders and alliances. It typically involves introducing a new product or service that is simpler, more convenient, and more affordable than existing offerings, and that addresses the needs of a previously underserved or ignored customer base. https://7dijits.com
- Disruptive innovation was first introduced by Clayton Christensen in his book “The Innovator’s Dilemma” in 1997. According to Christensen, disruptive innovations are initially considered inferior by mainstream customers and established companies because they do not meet their existing standards for performance, quality, and reliability. However, as disruptive innovations improve over time, they gradually gain acceptance and become mainstream, eventually displacing established products and services.
- Examples of disruptive innovations include personal computers, smartphones, digital cameras, and online streaming services, all of which disrupted established markets and transformed the way we live and work
