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Question: The concept of disruptive innovation is very popular in the business literature. What do you understand by this concept? What are its essential features? How would existing industries (incumbents) respond the threats posed by disruptors?

19 Oct 2022,9:38 PM

 

The concept of disruptive innovation is very popular in the business literature. What do you understand by this concept? What are its essential features? How would existing industries (incumbents) respond the threats posed by disruptors? Use examples in your discussion.

Expert answer

 

The concept of disruptive innovation is very popular in the business literature. This concept was first introduced by Clayton Christensen in his book "The Innovator's Dilemma". Disruptive innovation is defined as a process by which a new entrant or market player creates a new market and eventually disrupts an existing one.

 

There are three essential features of disruptive innovation: 1) it targets a new or underserved market; 2) it offers a simpler or more convenient solution; and 3) it has the potential to scale up quickly.

 

incumbents often respond to the threat posed by disruptors with denial, complacency, or even hostility. However, there are some instances where incumbents have been able to successfully respond to disruptive innovation. For example, Apple Inc. was able to successfully respond to the disruptive threat posed by Google's Android operating system by developing its own successful line of smartphones, the iPhone.

 

In conclusion, disruptive innovation is a process by which a new entrant or market player creates a new market and eventually disrupts an existing one. While incumbents often respond to the threat posed by disruptors with denial, complacency, or even hostility, there are some instances where incumbents have been able to successfully respond to disruptive innovation.

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