Disruptive Innovation

Innovation and innovation strategies are critical to keeping companies competitive in their chosen fields of endeavor. Consumers benefit significantly from the availability of and access to the latest in technology. This paper

Successful innovation rests on first understanding customer needs and then developing products that meet those needs. Our review of the literature, therefore, starts with our understanding of customers and their response to and acceptance of innovation. Because we are interested in how firms profit from innovation, the article will then review organizational issues associated with successfully innovating and with how organizations adopt innovations. Customer understanding and the organizational context are underpinnings to innovating successfully. They must be in place before proceeding. Then the flow of innovation will be discussed.

As we have learned in this program, innovation gives organizations a competitive advantage. Organizations that don’t move along with innovation and stay stagnant will perish, in the long run. According to Robert M. Grant’s Contemporary Strategy Analysis book, “competitive advantage is not only innovation in technology but also strategic innovation such as developing new approaches to doing business, creating value for customers from novel products, experiences, or modes of product delivery.” An example of this kind of innovation is Ikea and its new system of supplying customers that has reconfigured its entire value chain.

Innovations can create a huge opportunity for success, as they enable a company to create a competitive advantage by having differentiated products, services or business models. Hence an innovative strategy is highly recommended in order to achieve high business growth, in case you are willing to expose you to a higher degree of risk. Being successful with an innovative strategy requires a multidimensional approach and an integrative strategic management.

“The Innovator’s Dilemma” describes Christensen’s theory of disruptive innovation. But, his theory isn’t essentially briefed as one would assume. Her opinion is that case studies (like disk-drive industry) were chosen by the author to demonstrate his perception, as well as subjectively distinct success metrics.

Disruptive innovation emerges in all areas of life. In the field of higher education, there are two disruptive innovations that have changed the way we operate; online learning and social network. Online learning is a disruptive innovation for the

The course reading introduces many things to consider when creating innovation. Clayton Christensen specifically identifies three lesson that are essential of disruptive change. The first lesson that Christensen explores is that of technological enablers. This disruption creates routine problems solutions. In the IT world, this is much like the definition of automation. It is a step by step process that says, “If this occurs then proceed here.” Eventually, you are able to narrow down the original cause rather than trying to treat just the symptom of the problem. As Christensen states, this can save an industry much needed time and effort. This, in turn, leads to monetary savings. I do agree with Christensen with the fact that technology can

In order for change to be meaningful, innovation must be at the forefront. Constantly pushing boundaries is what allows us to improve the lives of those around us. Disruptive technologies are one of the main forces of innovation. After examining the Philadelphia Water Department, we decided on these two key disruptive technologies.

Innovation Architecture is the systematic discipline that integrates, configures, transforms, and aligns diverse elements resulting in the creation, design, or building of new sources of organizational growth or wealth. An effective innovation architecture process is the foundation needed to build innovation-led growth. This type of leadership establishes the framework for delivering effective innovation management by product planning, innovation portfolio management, new product development and the lifecycle of ideas to market closure. Savvy leaders shape the culture of their company to drive innovation. No one ever feels like they have time

Tidd and Bessant (2009) argued that “Unless an organization is able to move into further innovation, it risks being left behind as others take the lead in changing their offerings, their operational processes or the underlying models that drive their business”.

Innovation refers to finding new ways to improve the existing products, services, processes, technologies, and employee performance in an organizational setup. In today's competitive business environment, organizations have to focus on bringing innovation in each and every aspect of their business operations; like products or service offerings, enterprise resource planning systems, marketing and promotional efforts, and organizational structure. The market challenges and competitive pressures also force organizations to use a blend of all these innovation processes in their business activities. Therefore, it is vital to give an equal focus on product innovation, process innovation, marketing innovation, and organizational innovation within the limited organizational resources and capabilities.

1.0 ABSTRACT 2.0 INTRODUCTION 2.1.0 STUDY CONTEXT AND PURPOSE 2.1.2 RESEARCH OBJECTIVES AND PROCESS 3.0 LITERATURE REVIEW 3.1.0 THE ROLE OF INNOVATION WITHIN A CORPORATION 3.2.0 CREATING SUSTAINED COMPETITIVE ADVANTAGE 3.4.0 BUYER BEHAVIOUR 3.4.1 DIFFUSION OF INNOVATION WITHIN BUYER BEHAVIOUR 3.5.0 PROPOSITIONS 4.0 METHODOLOGY 4.1.0 METHODOLOGICAL APPROACH 4.1.1 QUALITATIVE VS. QUANTITATIVE 4.2.0 DATA COLLECTION METHOD 4.2.1 PRIMARY RESEARCH & INTERVIEW METHOD 4.3.0 SAMPLE AND PARTICIPANTS 4.4.0 DATA ANALYSIS AND ANALYTICAL FRAMEWORK 4.4.1 CODE LIST AND THEMES 5.0 RESEARCH FINDINGS AND DISCUSSIONS 5.1.0 PROPOSITION 1 – BUYER

Innovation offers the companies a competitive advantage. Presently and within the future, more than any time in history, the key to competitive advantage is innovation. However innovation will facilitate businesses meet all of their strategic challenges, not simply competition; to illustrate, in confronting accelerating rates of change, globalization, apace advancing technology, a additional numerous workforce, associated a modification from an industrial to a knowledge-based economy. Meeting all of those challenges helps the firm attain competitiveness, and meeting these challenges suitably depends on innovation. Innovation allows a firm to workout its challenges in distinctive ways in which build competitive advantage either through relative differentiation, a relative low-priced position, or few acceptable level of each. Innovation cannot assure success, however success cannot be achieved within the end of the day without it.

Disruptive technology is a new method of doing things that originally does not meet the needs of obtainable customers. It tends to unlock new market and destroy old ones. A disruptive Technology is a technology that creates a new market and value network and which has the potential to eventually disrupt an existing market and value network, or they can even displace established market leading firms, or products and alliances. The term was defined and phenomenon analyzed by Clayton M. Christensen beginning in 1995.

The business environment is becoming more and more competitive. This means that companies must develop innovative strategies in their attempt to develop their business and improve their situation on the market. There are several strategies that companies can use in order to reach these objectives. The most successful strategies rely on innovation. However, innovation requires significant investments.