Question
Which of the following types of innovation is likely to create new and often unexpected
markets?
O sustaining innovation
O disruptive innovation
incremental innovation
markets?
O sustaining innovation |
O disruptive innovation |
incremental innovation |
Ask by Barrett Norris. in the United States
Jan 13,2025
Upstudy AI Solution
Tutor-Verified Answer
Answer
Disruptive innovation is the type of innovation most likely to create new and unexpected markets.
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Mind Expander
Disruptive innovation is like a plot twist in a good story—it shakes things up! This type of innovation typically targets underserved markets or creates entirely new ones by providing simpler, more affordable, or more accessible solutions compared to existing products. Think of how streaming services disrupted traditional cable TV, opening up a whole world of binge-watching opportunities.
In practice, disruptive innovation can lead to significant shifts in industry dynamics. Companies that focus solely on sustaining innovations, which enhance existing products, may overlook these game-changing opportunities. By fostering a culture that encourages creative thinking and exploring new business models, organizations can tap into these unexpected markets and ride the wave of change!