Sustaining Through Disruption
Do you know what disruption actually is, what it isn’t, and how to avoid becoming extinct when the next disruption happens?
What's inside?
What you’ll learn:
- What is disruption?
- How to survive disruption
- Is your industry on the brink of disruption?
- The stages of disruption
Disruptive Innovation is Not New.
In fact, dealing with market disruptions is as old as commerce, but their scale and speed have never been greater. Knowing how to survive, even thrive, in such turbulence is essential to every industry.
Disruptive Innovation
Disruptive innovation - describes a process by which a product or service initially takes root at the bottom of the market – typically less expensive and more accessible – and then relentlessly moves upmarket, eventually displacing established competitors.
Sustaining Innovation
Sustaining innovation - is the process in which a company improves its product’s performance in response to customer feedback found across all channels, like social media, online and phone-based customer service and surveys.
Is Your industry on the Brink of Disruption?
Disruption across all industries is inevitable, but rather than bracing for the change, companies should be confident to embrace it, not presume that the best way to respond to disruption is by becoming the disruptor.
Four Stages of Disruption
Regardless of whether you end up going through each of the stages listed and march on as a disruptive brand, remember that by committing to sustaining innovation along the way will prepare your company for when disruption occurs.
Is the dietary supplements industry on the verge of disruption beyond the most recent examples?
From the discovery of vitamins in 1920 up through the late 20th century, dietary supplements were sold in stores and by door-to-door salesmen around the country. But once the Information Age hit, it opened Pandora’s box – changing the way brands engage customers.