5 Benefits Of Disruptive Innovation
The evolutionary process whereby new goods and services replace established competitors, and eventually increase accessibility and affordability for a much larger population, is referred to as “disruptive innovation,” a term created by Clayton Christenson of the Harvard Business School. This process, of course, has always existed. There have always been new kids on the block and “disruptive” is almost always the adjective for “change.”
Many business leaders who are not entrepreneurs, or have lost their touch, are frightened by the prospect of such innovation and prefer the inexorable addiction of “sustained innovation” or the maintenance of the status quo. The only problem – the status quo is a fleeting illusion that is picking up speed in the new normal marketplaces of the 21st century. Successful leaders are very often entrepreneurs in their own way, and they see the following benefits of embracing the “disruptive innovation” perspective:
- It can help your company expand its market through innovation with new and existing products or services.
- Current operations can be exposed to the light of urgency, identifying areas of process and structural improvement.
- You will find out who are your leaders for today and the future. People who are curious and welcome the challenge are the future. People who bemoan what is happening and refer to the past are the past.
- Opportunities for the future will present themselves because you opened the door for the possibility of something new, while creating a platform for growth.
- Your company culture can evolve as a learning community that welcomes change rather than fearing it.
The final point is critical – the riskiest and most dangerous thing you can do as a leader is resist the need to innovate.