The term „Disruptive Innovation“ is primarily at home in the areas of digital disruption, digital transformation, and e-commerce and digital commerce. It describes a groundbreaking innovation that fundamentally changes existing products, services, or even entire markets, and often displaces existing market leaders.
Disruptive innovations usually arise when a new product is simpler, cheaper, or more accessible than existing solutions. Especially at the beginning, they are often underestimated by established companies, as they initially only serve a small market or are considered qualitatively inferior. Over time, however, they become increasingly better, gain market share, and can completely transform entire industries.
A clear example of this is the introduction of the streaming service Netflix. Video rental shops dominated the film market for a long time. Little by little, Netflix, with its digital offering, completely changed the way people watch films – today, traditional video rental shops have practically disappeared.
For businesses, this means: disruptive innovation can force rapid changes. It is worthwhile to closely monitor technological trends and new ways of thinking in order to recognise opportunities and risks in good time.
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