In 200-250 words and in your own words and critical thinking. Define and explain disruptive innovation. What is the difference between incremental change and disruptive change? Could you give a real life example of either an organization that implemented a disruptive change or an incremental change? Feel free to use a work experience for a banking or credit card industry.
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Disruptive innovation can be defined as a form of innovation that improves a product or service in a manner not expected by the marketplace, such as lowering the cost of product or desining products for a different set of customers. Disruptive innovation can threaten the supremacy of existing market leaders as they result in sudden competition which is not expected by existing players.
Incremental change is the small, ...
Define and explain disruptive innovation. What is the difference between incremental change and disruptive change is determined.