Innovation and Disruptive Necessity26 November, 2014 / Articles
Innovation. Is the world getting smaller, or are we seeing further?
Today we stand on the shoulders of giants in a rapidly changing world. In order to gain the competitive edge needed to stay relevant, it is imperative that businesses seek to disrupt their own business model before the competition does. Innovate or die, the adage goes.
Disruptive innovations create new markets by applying values that ultimately, and unexpectedly overtake existing markets. “The theory holds that established companies, acting rationally and carefully to stay on top, leave themselves vulnerable to upstarts who find ways to do things more cheaply, often with a new technology,” says Drake Bennett,staff writer for Bloomberg Businessweek.
Businesses we thought “too big to fail” are now gone; victims of their own inability to adapt to the changing landscape that not only requires innovation, but requires the process of innovation to be sustainable and repeatable. And while some may argue that disruptive innovation is a competitive strategy for an “age seized by terror”, I would say disruptive innovation is an argument against complacency, made more relevant by a landscape transformed by technology. Technology isn’t just changing the way in which we do things — it is changing us.