An Innovation Process Idea to Harness Disruptive Innovation
One of the biggest challenges for businesses is innovation. Businesses need to be focused on innovating within the industry. At the same time, they need to be prepared to adapt to new innovations coming from competing businesses within the industry. If a business fails to position itself for innovation, it can fall victim to disruptive innovation. Usually, when disruptive innovation occurs, a business will have seen the new innovation coming, but due to constraints within their business structure, they were unable to adapt quickly enough and meet the new market demands. As a business development and management firm, you need to be able to help your clients position their businesses to protect themselves from disruptive innovation and position their own company for future success within their industry. In most cases, businesses are too focused on sustaining innovation, which is important to stay ahead of competitors within their industry. However, at the same time they are...