What Is Disruptive Innovation?
Disruptive innovators was a term coined in the 1997 book, “The Innovator’s Dilemma” by Clayton Christensen to explain how new products or services make their way to the market. Initially, these novel products aim to serve or target the market segments, which are considered “underserved” or “ignored“. Technology innovations frequently change the competitive setting by disrupting existing market players who innovate new products with different features than they were offering before. Innovations that shake existing practices set through technology improvement, consumer behaviour change or market dynamics shift are referred to as disruptive innovations. The awareness of the concept of disruptive innovation should be of a top priority of the business that aims not to be left behind in a time-bound and frequently new market environment.
What Is Disruptive Innovation in Product Management?
Disruptive innovation in product management refers to creating new products or services that shake up the market and change the way things are done. These innovations often start small, but they can grow rapidly and eventually replace existing products or services. In simple terms, disruptive innovation is about coming up with new ideas that completely change the game in an industry.
Table of Content
- What Is Disruptive Innovation?
- Understanding Disruptive Innovation Requirements
- Disruptive Innovation Vs. Sustaining Innovation
- Disruptive Innovation Vs. Disruptive Technology
- 4 Tips for Understanding the Theory of Disruptive Innovation
- Impact of Disruptive Innovation
- Conclusion: Disruptive Innovation in Product Management
- FAQ’s: Disruptive Innovation in Product Management