Explain each base on the picture. purpose of DISRUPTIVE INNOVATIONhow it worksnetflix's disruptive innovation DISRUPTIVE INNOVATIONPURPOSE: The term "disruptive innovation" was coined by Harvard professor Clayton M. Christensenbased on his research on the disk drive industry and later popularized by his 1997 book The Innovator'sDilemma." Disruptive innovation focuses on making something different that creates value forcustomers and for the company. It focuses on making complex products simpler or making expensiveproducts more affordable. Some examples are Uber and Lyft with the taxi industry and Airbnb withthe hotel industry. Not only will successful disruptive innovators steal market share from the alreadyestablished players in their respective industry, the innovation will often create new demand and attractmore consumers than in the original industry. On the other hand, the innovator faces a dilemma: Willinvesting in the disruptive innovation now hurt its current business in the longer term?HOW IT WORKS:Disruptive innovation is a process by whicha product or service takes root initially insimple applications at the bottom of a marketand then relentlessly moves up, eventuallydisplacing established competitors." It can beany disruptive strategy, process, product, orservice. For example, is there a market where acurrent product or service seems too expensiveor complicated to use, or is there a growingneed that is not being met? After identifying theproblem, it requires brainstorming and out-of-NETFLIX'S DISRUPTIVEINNOVATIONNetflix is a recent example of a disruptive innovator.The movie rental industry previously dominated byBlockbuster has largely been replaced by Netflix's moviestreaming platform, and the company has successfullychanged the home movie rental landscape forever. Thisinnovation not only drove Blockbuster out of business,it has also attracted many more customers thanBlockbuster could ever have had due to the simplicity,practicality, and superior business model achievedthrough Netflix's platform."the-box thinking. In a large company, it may behelpful to allow employees with an idea to forma microenterprise within the company where theyare given a chance to see if it will succeed."new way to provide a product or service often

A) Purpose of DISRUPTIVE INNOVATION Disruptive innovation is a development that streamlines and…

Answered: Explain each base on the picture.…

Business

Economics

Explain each base on the picture. purpose of DISRUPTIVE INNOVATION how it works netflix's disruptive innovation

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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