Disruptive Innovation
What is Disruptive Innovation?
Disruptive innovation refers to the introduction of a new product or service that significantly alters the way a market functions. It often starts by targeting overlooked segments of the market, gradually improving until it displaces established competitors. This type of innovation can transform entire industries by offering simpler, more affordable, or more accessible solutions.
Examples of Disruptive Innovation
- Ride-Sharing Apps: Disrupted the traditional taxi industry by offering on-demand rides through mobile apps.
- Streaming Services: Transformed the entertainment industry by providing online access to movies and TV shows.
- Online Learning Platforms: Changed the education landscape by offering affordable, flexible, and accessible courses.