Disruptive Innovation: How is it Shaping the Business Landscape?

Disruptive Innovation: How is it Shaping the Business Landscape?

Disruptive innovation is a crucial part of business growth, enabling companies to compete in new markets with affordable products. This article discusses two types of innovation: sustaining and disruptive, emphasizing that while sustaining innovation allows companies to maintain their position in the market, disruptive innovation is key to expansion. Low-end disruption occurs when a company introduces a lower-cost product or service that targets unserved or underserved customers, while new-market disruption creates entirely new markets. Established businesses can respond to disruption by ignoring it, embracing it through acquisition, fighting it by competing with the new company, or proactively focusing on constantly disrupting the industry. The article concludes by providing examples of disruptive innovations such as ride-sharing, 3D printing, and virtual reality, and encourages readers to continue learning about the potential impact of disruptive innovation.

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