Disruptive Innovations
Disruptive innovations are new technologies or ideas that significantly alter the way industries operate. They often start at the bottom of the market, targeting overlooked customers or creating entirely new markets. Over time, these innovations improve and eventually displace established products or services, leading to major shifts in consumer behavior and business practices.
A classic example of disruptive innovation is the rise of smartphones, which transformed the mobile phone industry. Initially, they appealed to tech enthusiasts, but as their capabilities grew, they replaced feature phones and changed how people communicate, access information, and interact with technology.