Topic: “Disruptive Innovation Technology” Complete a page r…
Topic: “Disruptive Innovation Technology” Complete a page research document on the topic listed below. Use correct APA format; cite references within the document and include all references on the reference page. Use at least two references. Page – 1 APA format Purchase the answer to view it
Answer
Disruptive innovation technology is a term that has gained significant attention in recent years. It refers to the development and implementation of new technology that disrupts existing industries and brings about significant changes in the way things are done. This research document aims to provide an overview of disruptive innovation technology, including its definition, examples, and potential implications for businesses and society.
To begin, it is necessary to define disruptive innovation technology. Disruptive innovation refers to a new technology or business model that disrupts existing markets, displacing established firms and creating new value networks. It often starts by serving niche markets or low-end customers that incumbent firms overlook or underserve. Over time, disruptive innovations improve in performance and reliability, eventually attracting larger portions of the market and displacing established players.
One of the most well-known examples of disruptive innovation technology is the personal computer. In the 1970s and 1980s, mainframe computers dominated the market. They were expensive, large, and complex, primarily used by large businesses or institutions. However, with the advent of the personal computer, smaller, cheaper, and more user-friendly computers became available to the mass market. Initially, personal computers were not as powerful as their mainframe counterparts, but technological advancements eventually closed the performance gap. The personal computer disrupted the mainframe market and revolutionized the way individuals and businesses interacted with computers.
Another example of disruptive innovation technology is the smartphone. When smartphones were first introduced, they were not as feature-rich or powerful as traditional mobile phones. However, advancements in technology rapidly improved their capabilities, and smartphones eventually displaced traditional mobile phones as the primary means of communication and access to information for most people.
The implications of disruptive innovation technology for businesses and society are significant. On one hand, disruptive innovations create opportunities for new entrants to challenge established players and disrupt traditional business models. This can lead to increased competition and market fragmentation. On the other hand, disruptive innovations can also have negative consequences for incumbent firms that fail to adapt. Companies that ignore or underestimate the potential of disruptive technologies may find themselves losing market share and becoming obsolete.
In conclusion, disruptive innovation technology refers to the development and implementation of new technology that disrupts existing industries. Examples such as the personal computer and smartphone demonstrate the transformative power of these innovations. While disruptive technologies create opportunities for new entrants, they also present challenges for incumbent firms. Understanding and adapting to disruptive innovation technology is crucial for businesses and society to stay relevant and competitive in an ever-evolving technological landscape.
References:
Christensen, C. M. (1997). The Innovator’s Dilemma: When New Technologies Cause Great Firms to Fail. Harvard Business Review Press.
Christensen, C. M., & Raynor, M. E. (2003). The Innovator’s Solution: Creating and Sustaining Successful Growth. Harvard Business Review Press.