Technology And The Technology At Right Time

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.

Disruptive technology is a new way of doing something that initially does not meet the needs of existing customers. This type of technology tends to open new markets and destroy old ones. While, a sustaining technology produces an improved product that customers are eager to buy. This technology provides better, faster and cheaper products on established markets.

In this essay I will describe and explain the causes and consequences of disruptive innovation. Firstly I will write about what dualism is, why it is important and how to achieve it. I will continue with describing difficulties, which may occur on a company’s path towards it, namely overshooting and inability to recognize the start of a new industry cycle. Further on, I will go deeper in the reasons, why incumbents fail to recognize the new entrants on the market, specifically “attack from below” and other discontinuous patterns of change. In the end I will describe some of the responses taken by established companies to disruptive technologies.

Disruptive technology brings about many opportunities for both innovation and productivity outputs, however it can also be a risk. It includes developments that create substantial change across the economy for most people and businesses, the impact of which causes significant costs to adjust to due to capital being made obsolete and workers becoming underutilised. Clayton Christensen is considered to be the world’s top expert on the concepts of disruption innovation and technology and according to him the ‘introduction of digital disruption offers a better alternative to the present approach for solving customer problems’. Digital disruption is redefining the norm, changing both markets and competitors around the world. Whilst it can be a positive change for

Many organizations often choose an enabling technology before identifying any legitimate business need. Sometimes this "cart before the horse" approach is due to rigid business processes, lack of technical knowledge, or pure product hype, which commands many a tech guru’s attention. Decision makers are very often awed by product suite success stories, dynamite product demonstrations, and industry analysts ' evaluation of technology, even when they haven’t formally identified a need for the technology. To compete successfully, managers need to focus on validating that a business need exists

This chapter is aimed at providing a context of the theory of disruptive innovation (DI) an examination of its representation in the academic literature. Section 2.2 explains the history, usage and evolution of the term, including the identification of important articles, authors and themes.

Radical innovations are technologies that allow firm to differentiate themselves from competition and become leaders in newly developed markets. As radical innovations are speculative in nature, it is essential for firms to constantly conduct numerous research and development projects to increase the likelihood a commercially viable one is discovered.

This chapter is aimed at providing a context of the theory of disruptive innovation (DI) an examination of its representation in the academic literature. Section 2.1 explains the history, usage and evolution of the term, including the identification of important articles, authors and themes. Section 2.2 explains the types of disruptive Innovation2.1 Introduction

Innovation is essential for any organization which seeks continued relevance in the market. This innovation might come in two forms, disruptive or sustaining. Accordingly, disruptive innovation seeks to enter an unexplored market with a product which is unlike any that the organization has at the time, and seeks to acquire a new pool of clients. This initiative needs to be considered as being capable of generating value for potential users. In the other

Blockchain technology came into existence in 2011 with Bitcoins, the digital cryptocurrency. At the onset, Bitcoins were used mainly in the darknet and thus developed a shady controversial image. But, with 15.8 million (Blockchain Info , n.d.) Bitcoins in existence at this moment, they are surely gaining popularity. It isn’t really this crypto currency, but the underlying Blockchain Technology engine has huge potential in the future.

And especially large established firms face this dilemma; they have grown excellent at managing operational efficiencies and building customer loyalty. But will they be able to take wise decision when it comes to radical innovations and face the chaos associated with commercialization of breakthroughs. Subsequently, some companies actually made it possible, for example IBM, with a new generation of communication chips, describing an innovation aimed to increase switching speeds and reduce

According to Clayton (1997), a disruptive technology is a new emerging technology that unexpectedly displaces an established one. It is the entirely new technology with no enhancement or modification in previous technologies. Typically, disruptive technologies do not get public attention at first and it takes an unpredictable amount of time to recognize. They have the captivating power of probing and changing our way of

A disruptive innovation at the start offers a lower performance accordingly to what the market demands at a lower prices. Usually, the phenomenon of disruptive innovation is refer to the entrance of a new established firm that enters the market with a new product targeting non-consuming customers with a low quality product at a lower price. However, for established firm, disrupting the market can be challenging. In order to do that established firms need to relay on new emerging trends driven by the demand of the sector and incorporated new technologies to reinvent the way business is done in the industry.

The case study of “Disruptive Innovation” is a studying that concentrated and described an innovation as the affordable price products for people in the entire world to use. This research indicated about certain disruptive innovations such as the laptops, the routers, smartphones or desktop photocopier that are the substitutions for other companies’ commodities. Furthermore, Porter five forces strategy is a structure to examine the level of competition in today’s market and to make an improvement for the business strategy. Likewise, these forces are including: the threat of new entrants, when suppliers have power, when customers have power, the threats of substitutes and intensity of competitive rivalry. Therefore, this report was assigned to analyze Porter’s five forces strategy for applying toward the case of disruptive innovations and demonstrating on how it affects or relates to most of the companies worldwide.