The Strategy of Disruptive Innovation
The business theory of disruptive innovation has now evolved to the point where it’s becoming a part of new and existing organizations’ strategy and future vision. Strategic business innovation has begun to create new markets, products and services—as well as establishing new business models, value networks, alliances and even competition.
All of this has the potential to disrupt existing markets, replace industry leaders, alliances and much more. This was first introduced in the pages of Harvard Business Review around 20 years ago, but its true adoption really did not begin to catch on until a decade later. Now, it is becoming much more common place.
Strategic disruptive innovation is now growing at a robust rate. Its growth is being fueled by emerging technologies and the recognition that their applications in real-world situations are creating real change. While speaking on this topic, I was asked, “Do you believe that the disruption that is taking place will make many existing products disappear and become offered as a subscription?”
The answer is yes, with a caveat: It will take place over the next several years, as long as the global environment and economy remains where it is currently.
No sooner did I answer that question when I was asked to provide an example of strategic disruptive innovation. My favorite examples are numerous
Please log in or sign up below to read the rest of the article.