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An 1880 penny-farthing (left), and a 1886 Rover safety bicycle with gearing. In business theory, disruptive innovation is innovation that creates a new market and value network or enters at the bottom of an existing market and eventually displaces established market-leading firms, products, and alliances. [1]
The term disruptive technologies was first described in depth with this book by Christensen; but the term was later changed to disruptive innovation in a later book (The Innovator's Solution). A disruptive innovation is an innovation that creates a new market and value network that will eventually disrupt an already existing market and replace ...
Every so often, innovation has the ability to affect an entire industry, and even popular culture. Horse and buggy travel was made obsolete by the invention of the internal combustion engine and ...
As robotics and artificial intelligence develop further, even many skilled jobs may be threatened. Technologies such as machine learning [13] may ultimately allow computers to do many knowledge-based jobs that require significant education. This may result in substantial unemployment at all skill levels, stagnant or falling wages for most ...
Such innovation, however, is a double-edged sword: The effect of continuous innovation ... is to devalue, if not destroy, past investments and labour skills. Creative destruction is embedded within the circulation of capital itself. Innovation exacerbates instability, insecurity, and in the end, becomes the prime force pushing capitalism into ...
Technological change (TC) or technological development is the overall process of invention, innovation and diffusion of technology or processes. [1] [2] In essence, technological change covers the invention of technologies (including processes) and their commercialization or release as open source via research and development (producing emerging technologies), the continual improvement of ...
Productivity-improving technologies date back to antiquity, with rather slow progress until the late Middle Ages. Important examples of early to medieval European technology include the water wheel, the horse collar, the spinning wheel, the three-field system (after 1500 the four-field system—see crop rotation) and the blast furnace.
Innovation, although not sufficient alone, is a necessary prerequisite for the continued survival and development of enterprises. [10] The most direct way of business innovation is through technological innovation, disruptive innovation or social innovation. Management of innovation, however, plays a significant role in promoting technological ...