One of the simplest ways of business disruption is simply to identify what’s already successful and what’s not. The process involves taking an existing thing, idea, or process and making a big difference by doing something different, innovative, or innovative. Business history is strewn with many well-known disruptors such as Ford, General Electric, AT&T, Microsoft. If disruptive innovation is done right, it can create huge market shares for the new company, substantially increase profits, and even sometimes change the competitive landscape of an entire industry.
An example of disruptive innovation can be seen in Amazon, Skype, and the new mobile phone market. In each case, one new technology platform was used to change an existing business model and create a new market. Both Amazon and Skype disrupted established telephone systems and made the telephone much cheaper, easy to use, and popular.
The other most common form of business disruption occurs through a new competition. Usually, new entrants come from another field or a different industry. These new competitors bring a variety of technological tools and skills that an organization currently does not have. Often, these organizations can create a new market and a new line of products and services.
When disrupting an existing business model, a disruptive strategy is usually adopted in response to a perceived slowdown in productivity or the quality of products and services offered by an organization. This strategy could also be adopted when a company faces competitive threats or if it faces a series of setbacks in specific areas. Many businesses have adopted disruptive innovation strategies recently, such as Google’s self-driving car project or the electric car company. As you study the disruptive movement, you’ll come across many important examples of innovation and disruption. Some of these include the internet, electricity, water treatment, and transportation.
If you want to succeed in business disruption, you need to understand that innovation cannot happen by accident. Disruptive innovation requires a concerted effort, sustained effort, and careful risk management. The key to sustaining innovation in a disruptive environment is careful attention to the real world. Businesses must monitor their performance and closely look for signs of change. If you see these signs, you can adapt your approach and your business model to respond better.
Business disruption presents many unique and interesting examples. If you are willing to look for them and to adapt your strategy to suit them, then you have a much better chance of preventing a disruptive innovation in your market. Now go ahead and start looking for more examples.
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