I wanted to depart from just focusing on extolling innovation within this post – a sort of sound off, of sorts.
It seems in all I keep reading that we are being extorted to disrupt our enterprises before someone else does.
The constant threat of both those known to us and those unknown competitors who can simply raise money based on a disruptive concept, provide a different business model and then attack tomorrow. It is not a comfortable feeling is it?
We are told It is in our ‘complacency’ that we are losing our competitive advantages, even face extinction from these that attack and tear down, replacing it with something different and supposedly better. Did we really need it?
Can we learn to adapt as fast as all that is seemingly coming towards us?
There is so much disruptive power being harnessed that we are all facing an exponentially more complex and challenging environment. Why is there seemingly this determination to tear down many parts of the fabric of our society by challenging institutions, businesses and government structures?
In the past few days I enjoyed listening to a webinar by Clayton Christensen and Max Wessel for the Forum for Growth and Innovation, a Harvard Business School research centre initiative. The Forum for Growth and Innovation seeks to develop “breakthrough theories to help businesses become more successful innovators and create new, robust sources of growth”. The webinar was all around surviving disruption but discussed also “looking beyond the horizons”.
The Theory of Disruptive Innovation
To offer a quote from the Forums own website (www.thefgi.net.): “Disruptive innovation describes a process by which a product or service takes root initially in simple applications at the bottom of a market and then relentlessly moves ‘up market’, eventually displacing established competitors”.
“An innovation that is disruptive allows a whole new population of consumers access to a product or service that was historically only accessible to consumers with a lot of money or a lot of skill. Characteristics of disruptive businesses, at least in their initial stages, can include: lower gross margins, smaller target markets, and simpler products and services that may not appear as attractive as existing solutions when compared against traditional performance metrics”.
The webinar raised in my mind many unanswered questions. Continue reading