Innovate or die.1
Clayton M. Christensen is a distinguished professor of business at Harvard University. In 1997, he published a landmark work entitled, The Innovator’s Dilemma: When New Technologies Cause Great Firms to Fail. The book describes a business phenomenon which Professor Christensen labels disruptive innovation. In a nutshell, disruptive innovation occurs when leading companies in an established industry, through the process of refining products to meet the needs and demands of their most profitable customers, eventually bypass the needs and means of their least profitable customers, creating a vacuum at the bottom of the market. New companies come in with innovative basic products which meet underserved ...
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