General misconceptions Sample Clauses

General misconceptions. As is clear from the previous paragraph, in order to classify as a disruptive innovation, multiple conditions have to be met. The main problem with the term ‘Disruptive innovation’ is that it is frequently misapplied and misunderstood. The danger here is that different types of innovations require different types of response strategies. When one cannot make the distinction anymore between disruptive and other types of innovations, managers and boards of firms may use the wrong response strategy in their specific context and end up failing.(Xxxxxxxxxxx et al., 2015) First of all, disruption is a process. The term ‘disruptive innovation’ is used to refer to the evolution a product or service goes through rather than the product or service itself. It is the process of entering a (low end ) niche market and gradually moving up to the larger, mainstream market, which is called the disruptive path. (Xxxxxxxxxxx et al., 2015) The next misunderstanding is that a disruption always displaces the incumbent and puts it out of business. It is however perfectly possible for the incumbent to maintain its profitability by focusing on the high-end niche market of the most demanding customers.(Yu & Hang, 2010) With the right response strategy, the incumbent can even effectively counter and take over the role of the disrupter. The most common response strategies will be treated later in this text. Following this understanding, it should also be made clear that a product or service is not disruptive because of the success it achieved, but again by the evolution it went through. Certainly not every disruptor eventually succeeds in gaining a strong foothold in the mainstream market. (Xxxxxxxxxxx et al., 2015) Competition of incumbents remains fierce, as they usually have better resources to compete with. The last common mistake that needs to be addressed is the confusion of disruptive innovations with sustaining innovations. A sustaining innovation occurs by continuously improving a product or service for the existing customers with smaller improvements and major breakthroughs. The innovation however is always focused on selling more to the most profitable customers. Disruptive innovations initially focus on the ignored customers(low-end) or non-users (new market), which are not that profitable but are used as a springboard to the established market.
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