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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]
For him, disruption is the process of newcomers penetrating at the low end of a market and then moving up the value chain. Jean-Marie Dru has always promoted a broader definition and practical business applications. For him, Disruption, as a practical concept, is about bringing radical change, as opposed to incremental, linear change.
Based on this multi-industry study, Christensen introduces the theory of "disruptive innovation", popularising the idea in business parlance. Christensen then argues that the following are common principles that incumbents must address: Resource dependence: Current customers drive a company's use of resources
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 ...
Bottom-up definitions define the Digital Economy as the aggregate of a specific indicator for a set of industries identified as actors in the Digital Economy. Whether an industry is considered an actor depends on the nature of the products (narrow) or the proportion of digital inputs used in production processes (broad).
In modern economics, creative destruction is one of the central concepts in the endogenous growth theory. [14] In Why Nations Fail , a popular book on long-term economic development, Daron Acemoglu and James A. Robinson argue the major reason countries stagnate and go into decline is the willingness of the ruling elites to block creative ...
Clayton Magleby Christensen (April 6, 1952 – January 23, 2020) was an American academic and business consultant who developed the theory of "disruptive innovation", which has been called the most influential business idea of the early 21st century.
Economists pointed to lean manufacturing (also known as "just-in-time" manufacturing) as a major source of the supply chain disruption. The lean manufacturing method relies on well-tuned matching between the raw material input and finished good output of production facilities to minimize the amount of products stored in warehouses and thereby ...