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Companies need to adapt quickly to disruptive technologies from "summary" of The Innovator's Dilemma by Clayton M. Christensen
Disruptive technologies have the potential to reshape industries and markets. Companies that fail to adapt quickly to these innovations risk being left behind. This is because disruptive technologies often start out as inferior to existing products or services in terms of performance or quality. However, they have the advantage of being more affordable or accessible, making them attractive to a new segment of customers. As disruptive technologies continue to improve at a rapid pace, they eventually reach a point where they surpass the capabilities of existing products or services. At this stage, companies that were slow to respond find themselves at a significant disadvantage. They may struggle to compete with new entrants who have embraced the disruptive technology and built their business models around it. One of the key challenges for companies facing disruptive technologies is the tendency to focus on their existing customers and markets. This can be a trap, as disrupt...
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