Disruptive Innovation vs Radical Innovation: What’s the Difference?
Innovation can be classified into two main types: disruptive innovation and radical innovation. Disruptive innovation is an idea that improves upon an existing market by exceeding the needs of a customer base, eventually displacing the old market. Radical innovation destroys the current market and value network, creating an entirely new one.
Another way to think about it is that radical innovations challenge the status quo and create something new. Disruptive innovations are those that make an existing product or service obsolete.
Many believe that both disruptive and radical innovation result from chance or luck. However, there is a lot of evidence to suggest that they result from a specific mindset and approach to problem-solving.
So, what is the secret to consistently creating disruptive and radical innovations?
What is Disruptive Innovation?
There are a few key things to keep in mind when creating disruptive innovations. First, it’s essential…
