Disruptive innovation as a new meaning for survival
A disruptive innovation is an innovation that creates a new market and eventually disrupts an existing market, displacing established market leaders. Being a market leader these days, means to be awake but also to think and act beyond. At the same time, competition ist not competition anymore. Competition arises from other countries, branches and industries. Google may become an online bank, given the access to million of accounts and start-ups like AirBnB are shaking up the entire hotel industry. Spotify is currently changing the way we consume music that we don’t won anymore. And after all, i’ts just a matter of time until online streaming services like Netflix have made a CD movie store abandon. In a nutshell: established industries are under jeopardy like never before. No matter if the concept is disruptive, or the technology – organizations need to be disruptive themselves in order to stay in the market, often by creation a new one. Finally, nobody knows when the the BIG THING will hit the street and what it is going to be.
Better you define the new rules – than someone else does
As a consequence don’t get stuck in improving your product, service or processes – think big and question as much as you can. There are methods and techniques like design thinking, crowdsourcing and open innovation which can be applied to gain first experiences on a new battlefield. Large corporations who discovered that start-ups are faster and more innovation than large organisations and its lame processes and complex structures will ever be, build corporate start-ups to accelerate innovation and hence business development.