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Thanks to Professor Clayton Christensen of Harvard University and his 1997 landmark book, The Innovator’s Dilemma , we have a new way of understanding the life cycle of companies and why some market leaders maintain their dominant position and other one-time market leaders disappear. WHAT IS A DISRUPTIVEINNOVATION?
D ISRUPTION has become synonymous with innovation. But disruptive doesn’t have to be destructive. With disruptive creation, “the new comes at the expense of the old and its associated companies and jobs, creating a win-lose or winner-takes-most economic outcome. It is the dominant view of how growth is created.
In the years leading up to 2018, I have spent my time bringing innovation to the financial services space. Fintech, as this sector is colloquially referred, focuses for the most part on disrupting the state of affairs induced by the use of technology. As such it is all about innovation. Let’s study a bit about Innovation.
As a result of our conversation, I decided to dust-off an old post, give it a few updates, and pass along my thoughts, which can be best summarized as “ Ideas Don’t Equal Innovation. “ It is my hope to help dispel the myth that ideas are inherently good things.
Disruptiveinnovation is no longer the exception, it’s the rule. If we’re not proactively driving disruption, we’ll eventually need to react to it. Christensen calls these attributes “discovery skills” which are all focused on the front-end of the innovation process related to identifying new opportunities.
While much has been written about corporate vision, mission, process, leadership, strategy, branding and a variety of other business practices, it is the engineering of these practices to be disruptive that maximizes opportunities. So why do so many established and often well managed companies struggle with disruptiveinnovation?
Consider this simple yet powerful idea: disruptive companies and ideas upend markets by doing something truly different—they see a need, an empty space waiting to be filled, and they dare to create something for which a market may not yet exist. Perhaps innovative thinking among your management team has stalled.
So to get the most out of innovation processes such as design thinking, truly creative leaders also need to master the social dynamics of… [wait for the punchline}…humor! We have witnessed that skilled leaders, those we call “Stand-Up Strategists”, understand the utility of humor to boost innovation. May the farce be with you.
We are witnessing the creation of an entirely new paradigm, a fierce wave of technological innovation boosting generations of new businesses and business leaders. The pace of technological applications and innovations has increased significantly in recent years. Innovation is doing new things.” – Theodore Levitt.
Emerging Technologies Shaping the Future Emerging tech like Artificial Intelligence (AI) and Machine Learning (ML) are revolutionizing the digital landscape and already have numerous applications in the market. These technologies are advancing rapidly and redefining the line between human potential and technological innovation.
Some would say that the term thought leader, once synonymous with futurist and innovator, is more closely aligned with snake-oil salesman today. Don’t get me wrong, true thought leaders still exist; they are just far fewer in number than all the marketing hype would lead you to believe. What is a thought leader?
Today I am blogging live at World Innovation Forum (#WIF11). Attending and listening to speakers helps plant the seeds of innovation in my mind. Of course he spoke about disruptiveinnovation. They began by taking the low end of the market - rebar. So the minimills looked up to the next market - Angle iron.
Moreover, the true litmus test for a thought leader is when their unique ideas are implemented in the marketplace, they tend to create disruptiveinnovation, and often change the way we view the world. Let me begin by stating that authentic thought leaders, the real deals, are not created via great marketing and PR alone.
Expanded Market Opportunities: Coopetition opens doors to new markets and customer segments that might have been difficult to reach individually. By collaborating with competitors, companies can combine their strengths to penetrate untapped markets, address customer needs more effectively, and ultimately drive growth.
His book The Innovators Dilemma has impacted the business world perhaps more than any other book in recent history. According to Christensen, you keep nimble and respond to up-and-coming innovations at the bottom of the market. Integrity Leadership Purpose change Clayton Christensen Innovation'
When you think about it, the model of disruptiveinnovation is the exception, not the rule. Many leaders associate the term “innovation” with game-changing disruptions of existing industries or the creation of entirely new ones, like the way Apple’s iTunes helped create a whole new way to sell and distribute music.
Today's conventional wisdom says to survive, companies must move beyond incremental innovation and invest in radical, disruptiveinnovation. In "THE POWER OF LITTLE IDEAS" , Wharton professor David Robertson examines an approach to innovation; one that is neither incremental nor disruptive. Unlocking Innovation.
We know of the value of disruptive change, described best by Clayton M. Here’s the description (from Wikipedia): A disruptiveinnovation is an innovation that helps create a new market and value network, and eventually disrupts an existing market and value network (over a few years or decades), displacing an earlier technology.
If you cannot turn an idea into innovation, if you can’t put thought into practice, it’s not a game changer. Incremental improvements are good business, while disruptiveinnovation is great business – a game changer. Disruptiveinnovation is the game changer that shatters the status quo.
Could we be ignoring the most fundamental tool that anyone can use to create disruptiveinnovation and change? Cook dismissed his own market data for over a year. This initial surprise led to an even bigger one: the market for small-business-accounting software was ripe for the taking. Here’s the fundamental problem.
Innovating O ur Way to Sustainability , we assert that to address these challenges requires substantial, disruptiveinnovation across a wide number of sectors. Such innovation cannot and will not happen without the active involvement of the business community. Innovation is more than invention.
There are two types of risk – competitive risk, which involves head-to-head competition, and market risk, which creates a new field of play. With market risk, you are playing where no one else is playing. Your distinctive strengths are clues for where you can innovate and make the rules instead of playing someone else’s game.
The traditional narrative around disruptiveinnovation is that those doing the disrupting are nimble, agile, and generally taking advantage of the winds of technological change. Managing disruption. ” Adopter segments.
My friend and marketing/branding guru, Brian Sooy, send me a message saying that what I really do is "Inn-Oi-Vey-Tion." Let's face it - innovation is hard - it can be fun, but it's also hard. " I laughed hysterically - and then realized he's right! It takes courage, hard work, fun, creative thin [.].
Pirate innovators The report investigates how these informal disruptors transition to legality by formalizing their operations. It also examines how established firms can counter the threat of these innovators through collective lobbying and consumer education. ”
Far too many supposed innovation experts believe that measuring activities is critical to success. Innovation activities simply for the sake of doing something without context and insight from the measure may be in fact very misleading. Maybe not so much. At least for the big stuff.
When we think of innovation, we often do so through the lens of “creative destruction” The phrase, which was memorably coined by economist Joseph Schumpeter, suggests that innovation typically happens when an incumbent is gazumped by a new upstart. ” What is non-disruptiveinnovation? INSEAD’s W.
Flip the book over, and you have Gutsche’s updated and expanded, bestselling, Exploiting Chaos , book now called, The Innovation Handbook , featuring memorable real-world case studies and plenty of thought-provoking questions to inspire next steps for innovation. When it comes to innovation, culture is more important than strategy.
His life’s work has focused on the market dynamics surrounding disruptiveinnovations. His first book, Crossing the Chasm, 3rd… Read More Geoffrey Moore on Zone to Win: An interview by Bob Morris.
His life’s work has focused on the market dynamics surrounding disruptiveinnovations. His first book, Crossing the Chasm, 3rd… Read More Geoffrey Moore on competing in the Age of Disruption: An interview by Bob Morris.
Nondisruptive creation is when you create a new market without needing to tear down or displace others or your own business. There are no failed companies, lost jobs, or destroyed markets in its wake, opening a path to innovation where business and society can better thrive together.
There are two types of risk – competitive risk, which involves head-to-head competition, and market risk, which creates a new field of play. With market risk, you are playing where no one else is playing. Your distinctive strengths are clues for where you can innovate and make the rules instead of playing someone else’s game.
DisruptiveInnovations that have impacted B2B MarketingDisruptiveInnovations that have impacted business & B2B Marketing Looking through some of this data raises some interesting thoughts. The question is what will be the next disruptive technology or application that will change the way we do [.].
For me and many other physicians, reading " Will DisruptiveInnovations Cure Health Care " by Clayton Christensen, Richard Bohmer, and John Kenagy in the September-October 2000 issue of Harvard Business Review was like having a light turned on. It was like World War I trench warfare, where a 1% shift in market share was a big deal.
Flip the book over, and you have Gutsche’s updated and expanded, bestselling, Exploiting Chaos , book now called, The Innovation Handbook , featuring memorable real-world case studies and plenty of thought-provoking questions to inspire next steps for innovation. When it comes to innovation, culture is more important than strategy.
You are also the author of a ton of different stuff around this idea of disruption, the most recent one being- I’m making sure I get this title right. The most recent being Big Bang Disruption: Strategy in the Age of Devastating Innovation. You call it this big bang disruption. DAVID: Yeah.
On the other hand, the consensus was strong among market observers that Apple should not be concerned at all and that it should keep on doing exactly what it's doing — making more powerful tablets. The majority of market observers reckon there is no way that it could slay the giant. Disruption occurs given two criteria.
Technology change is speeding business up and providing an edge for disruptiveinnovators. And they are comfortable using rapid design cycles to prototype and test products/services in the market, rather than depending on traditional marketing analysis. How will AI impact the bulletproof approach?
Instead, longevity is based on entrepreneurial thinking and innovation – in exploring ways to adapt corporate and business strategies in response to market, technological, and social and cultural change. On reflection, though, I find that the evidence does not support competitive advantage as a path to longevity.
It is Clayton Christensen 's innovator's dilemma incarnate, and Netflix is very publicly trying to solve it. The presentation goes on to say, "We're in a creative-inventive market, not a safety-critical market like medicine or nuclear power. Music to any innovator's ears.
The larger organization often doesn’t directly oppose innovations in processes that are in place; but by reinstating old management practices the organization undermines the system that allowed those processes to be successful. It is very difficult to copy when you start undoing the cultural things.
One of the best innovation stories I’ve ever heard came to me from a senior executive at a leading tech firm. That, in essence, is the value of open innovation. There is no one “true” path to innovation. They lock themselves into one type of strategy and say, “This is how we innovate.”
Matt Eyring , president of Innosight, explains why disruptiveinnovation in developing countries means not just tweaking, but instead rethinking, your business. He is the coauthor of the HBR article New Business Models in Emerging Markets.
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