Disruptive innovation is the key to achieving growth in a fast-changing world, according to Harvard Business School Professor Clay Christensen.
Industry giants focus on sustaining innovation and upgrading existing products, Christensen says, but by doing so they are ignoring the regular customers and focusing only on the high-paying ones. The disruptive innovator takes a different approach and offers simple, low-cost alternatives that focus on exactly what the customer is looking for. He tailors the product by answering the question ‘what job does the customer need done?’ in the most basic way. Disruptive innovations create new markets and reshape existing ones, successfully securing a competitive advantage.
For more, see our explainer on Clay Christensen.