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Disruptive innovation challenges established companies from "summary" of The Innovator's Dilemma by Clayton M. Christensen
Disruptive innovation is a concept that has the power to upend established companies and their way of doing business. This type of innovation often comes from unexpected places, challenging the status quo and forcing companies to rethink how they operate. It can be difficult for established companies to adapt to disruptive innovation because it requires them to fundamentally change the way they approach their business. One of the key challenges that disruptive innovation presents to established companies is the fact that it often targets underserved or overlooked markets. These markets may not be as profitable or as attractive to established companies, but they can still have the potential to grow and disrupt the industry. This can make it difficult for established companies to see the value in investing in these markets, as they may not generate the same level of returns as their core business. Another challenge that disruptive innovation poses to established companies is that it often involves the use of new technologies or business models that are unfamiliar to them. This can make it difficult for established companies to compete with disruptors, as they may not have the expertise or resources necessary to effectively leverage these new innovations. In some cases, established companies may even dismiss or ignore disruptive innovation, believing that it is not relevant to their business. The impact of disruptive innovation on established companies can be significant, leading to decreased market share, declining profits, and even bankruptcy in some cases. This is because disruptive innovation has the potential to completely change the way that industries operate, creating new winners and losers in the process. Established companies that fail to adapt to disruptive innovation risk being left behind as their competitors embrace new technologies and business models. In order to survive in the face of disruptive innovation, established companies must be willing to take risks, adapt to change, and embrace new ways of doing business. This can be challenging, as it may require them to abandon long-standing practices and beliefs in favor of more innovative approaches. However, the companies that are able to successfully navigate disruptive innovation can emerge stronger and more competitive in the long run.
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