Review:
Disruptive Innovation
overall review score: 4.5
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score is between 0 and 5
Disruptive innovation refers to a new product or service that creates a new market by disrupting existing markets and value networks, displacing established market-leading firms and products.
Key Features
- Creates new markets
- Displaces established firms and products
- Often initially inferior but improves over time
- Typically lower cost or simpler to use
Pros
- Encourages competition and innovation
- Can lead to more affordable products/services
- Drives progress and evolution in industries
Cons
- May lead to job losses in traditional industries
- Could result in initial resistance or pushback from established players
- Risk of failure before successful adoption