Theories Of Disruptive Innovation

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The Realities of Progress and Disruption The "Idea of Progress" is a theory stating that, advances in technology, science, and social organisation inevitably produce an improvement on the wellbeing of mankind. The theory implies that progress is virtuous and driven by conscious human endeavour. Over the past century of “progress”, mankind has endured two World Wars, the Great Depression, and the potential of a nuclear holocaust, environmental catastrophe, and more recently the global financial crisis. The notion, at least philosophically, that progress is always good, appears fallacious. When contemplating change in today’s environment, it may no longer be appropriate to reference such change in terms of progress but rather “innovation”. In Capitalism, Socialism and Democracy (1942), Joseph Schumpeter developed the idea of creative destruction and described innovation as the disruptive force that sustained economic growth, even as this new force destroyed the value of established companies that enjoyed some degree of power derived from previous technological and economic paradigms. Extending on this idea, Clayton Christensen In his book, The Innovator 's Dilemma (1997), developed his theory of disruptive innovation, defining such innovation as those that create new markets, and in so doing disrupt and displace existing markets as well as their underlying technologies. This disruptive force is value neutral in that it can have both a constructive and destructive influence

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