Disruptive Innovation : An Organization 's Decision Making Process

The difference between invention and innovation is an invention is something that can be patentable or the creation of a new product. An innovation would be a product that has been invented already but upgraded or enhanced to perform better. Both are similar because each time a product is invented or innovated a new discovery or creation is perceived.

Barnet (1953) defines the invention as such “Any thought, behavior, or thing that is new because it is qualitatively different from existing forms. …every invention is an idea, or constellation of ideas; but some inventions by their nature must remain mental organizations only, whereas others may be given overt and tangible expression”

Innovation. To some this word means a new idea or product. To me innovation means an improvement on the way that the world views something and inspires change. An innovation is as simple as the wheel or as complex as discovering how to map the human genome. Innovations have the power to impact the world in major ways. Even ideas or movements are considered innovations. The civil rights movement changed our country by opening the eyes of our citizens to the racial inequality that was occurring. It ignited change in the way we viewed each other as human beings.

Innovation is a term I’ve frequently heard in the realm of business and technology implying new and or different methods leading to

Innovation is an idea that must be cost-effective and must gratify a precise need. Innovation includes careful application of information, imagination and creativity in stemming greater or different values from resources, and includes all processes by which new ideas are generated such as brainstorming and converted into useful products.

Innovation is a term that is so widely used and thought of as simple inventions, but it is truly so much more. Innovation is a complex thought process of new ideas that can be implemented for the betterment of many. Change and adaption within any environment is the foundation of innovation and identifying its sources make it easier to implement innovation. The easier it is to foster an innovative environment and inject innovation; a positive impact on a business is instantly seen

Being a registered nurse affords one the option of working in many diverse healthcare settings. In any practice setting the climate of health care change is evident. There are diverse entities involved in the implementation and recommendation of these practice changes. These are led by the Robert Wood Johnson Foundation (RWJF), the Institute of Medicine (IOM), nursing campaign for action initiatives, as well as individual state-based action coalitions. Nurses need to be prepared and cognizant of the transformations occurring in health care settings as well as the plans that put them at the forefront of the future.

The word ‘innovation’ is derived from Latin word ‘innovare’, which means “to change something to new”. In other words, we may say that ‘innovation’ means changing the regular way of doing things and involves doing the regular things in a novel way.

For instance, Wal-Mart is a good example of a company that has used a disruptive business model (Hess, 2012). Wal-Mart came into the market and introduced cheaper products while opening thousands of stores across the globe. Their concept of buying less at a lesser fee seemed to have attracted a lot of customers and this translated to the right revenues for the company within the first year of operation. Wal-Mart is arguably the biggest store globally and the largest employer with an employment capacity of over two million people globally. A disruptive model ensures that a company leaves an old way of shaping their products and learns new methods of

Innovative leaders, given the conceptual framework, innovation methods, and organizational support structures and systems, can drive significant innovation and change within a healthcare system. Even though the ubiquitous challenges of a deeply entrenched healthcare system and associated practices can seem overwhelming, nurses nationwide are mastering the concepts and skills of innovation and making a tremendous difference in the practice of nursing, thus improving patient care (Blakeney, et al.,

Tidd et al (2000) states, “the innovation is a business process of revolving opportunity into new ideas and of putting these into widely used practice. In term of the nature, there are five major types of innovations: novelty, competence shifting, complexity, robust design and continuous improvement. While in term of the extent of change, innovations can be divided into incremental, radical and

Innovation is normally used to denote the process that takes place when a product or a process is developed, from idea to market; the concept of invention only denotes the process that takes place when new ideas or solutions are generated. Baumol (2002) argues “is it possible to have lots of inventions and still lack innovations. Nevertheless, inventions are a necessary precondition for innovation”.

Innovations are successful conversions of ideas into unique products, services or results. Smartphones like the iPhone and the Samsung Galaxy; social media platforms like Facebook and Twitter; ecofriendly cars like Tesla and the Nissan Leaf; online games (MMORPG) like World of Warcraft etc. are all successful innovations. These innovations earn millions of dollars for their respective companies.

The business world continues to change dramatically as new technologies are invented. Organizations and businesses are experiencing waves of technological change and innovation and the process. Thus, management strategies of the organizations have to be altered to match the new technologies if businesses are to remain competitive and active in the market place. Digital disruption can be defined as the changes that take place when new technologies and business models affect the promise of value to be delivered by existing goods and services (McQuivey 2015). Change experienced in information and communication technology cannot be assumed as this greatly affects business governance and business models. It is indisputable that business and organizations are facing imminent and major digital disruptions and it is important for each organization to understand the issues raised by digital disruption to be able to develop specific, pragmatic, and proportional responses (Deloitte 2015). This research seeks to show how digital disruption impacts business governance and how it opens unprecedented business opportunities and possibilities. The report shows how the innovations accompanying digital disruption changes economies and markets and how they reinvent relationships between organizations, suppliers and customers.

A disruptive innovation happens in the same segment such that it throws the competition off balance and enters an untapped market.