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Companies must balance sustaining and disruptive innovation from "summary" of The Innovator's Dilemma by Clayton M. Christensen
The challenge for companies lies in managing both sustaining and disruptive innovation. Sustaining innovation involves improving existing products or services to meet the needs of current customers. This is a necessary aspect of business to stay competitive in the market and retain customers. However, focusing solely on sustaining innovation can lead to a company's downfall when disruptive innovation emerges. Disruptive innovation, on the other hand, involves creating new products or services that may initially appeal to a niche market. These innovations may not be as advanced or appealing to existing customers, but they have the potential to disrupt the market and eventually overtake existing products or services. Companies that fail to recognize and invest in disruptive innovation risk becoming obsolete in the long run. Finding the balance between sustaining and disruptive innovation is crucial for a company's long-term success. While sustaining innovation is necessary for maintaining current operations and satisfying existing customers, companies must also allocate resources towards exploring disruptive innovation opportunities. This requires a shift in mindset and a willingness to take risks in order to adapt to changing market dynamics. Companies that successfully navigate this balance are able to stay ahead of the curve and maintain a competitive edge in the market. By continuously iterating on existing products while also exploring new opportunities for growth and innovation, companies can position themselves for long-term success. The key lies in being able to identify when to invest in sustaining innovation and when to pivot towards disruptive innovation to stay relevant and thrive in an ever-evolving market landscape.
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