There is an interesting article/working paper in Harvard Business School’s Working Knowledge - Jumpstarting Innovation: Using Disruption to Your Advantage by Lynda Applegate:
Disruptions in the business environment cause economic shifts that destabilize industries, companies, and even countries. They allow new entrants or forward-thinking established players to introduce innovations—in products, markets, or processes—that transform the way companies do business and consumers behave.
Mature companies understand that to compete today they need to innovate. But finding sources of innovation while still paying attention to the current business can be a struggle. The good news, says Harvard Business School professor Lynda M. Applegate, is that one of the forces that threatens established companies can also be a source of salvation: disruptive change.
This excerpt from a recent presentation encourages executives to leverage disruptive change as a platform for innovation.
Fostering innovation in a mature company can often seem like a swim upstream—the needs of the existing business often overwhelm attempts to create something new. Lynda M. Applegate argues that one of the forces that threatens business can also be the source of a major change : disruptive innovation. She continues that disruptive changes that might serve as the source of innovation include technology shifts, new business models, industry dynamics, global opportunities, and regulatory changes.
Just as they say that business is like running a treadmill, disruptive innovations need not be just novel inventions. Successful innovators take ideas and turn them into opportunities by adding a business model that creates sustainable economic value for all stakeholders. They then go one step further and exploit the opportunity by creating a sustainable business. Together with business model innovation , disruptive innovation can be the harbinger of making innovation the dominant mantra for growth, success and in some cases for survival
Labels: Emerging Thoughts, Emerging Trends, Innovation