Disruption as a noun means “disturbance or problems that interrupt an event, activity, or process.” To cause (something) to be unable to continue in the normal way. For business, however, disruption is viewed in broader terms as ‘disruptive innovation’, a term first introduced in 1995 by Clayton Christensen, the author of “The Innovator’s Dilemma”.
“A disruptive innovation is an innovation that creates a new market and value network and eventually disrupts an existing market and value network, displacing established market leading firms, products and alliances.”
Fast forward to today, what does disruption look like in 2017? Businesses generally still have two options when faced with disruptive innovation. Try and hold on to existing market space by doing the same thing(s) better, or attempt to capture new markets by embracing new business models and technologies, and adapting to rapid change.
“Change is good if it leads to improved performance, highly engaged employees and more satisfied customers.” Continue reading…