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"The Innovator's Dilemma" by Clayton Christensen - VIDEO BOOK SUMMARY - YouTube
Channel: Snackable Idea
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the innovators dilemma by Harvard
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Business School professor Clayton
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Christensen the book explains how
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successful companies that dominate their
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industries fail in the face of
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disruptive innovation it's a message of
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caution for leadership teams at these
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companies but also a message of
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encouragement for competitors venturing
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against these goliaths first will
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distinguish between sustaining and
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disruptive innovation then we'll discuss
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why it's difficult for most companies to
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adopt disruptive technologies and
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finally what does it all mean
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for both large companies and startups
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there are two types of innovation
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sustaining and disruptive a company
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follows a path of sustaining innovation
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when it improves a product's performance
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based on feedback from its best and
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largest customers it's usually about
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reducing defects and making something
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faster or more powerful in contrast a
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disruptive innovation often involves
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lower performance in many of the key
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features valued by the market it often
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means more defects and less speed or
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power a disruptive product appears as if
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it's doing everything wrong a large
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company with sophisticated and demanding
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clients can adopt such a technology why
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would anyone want to focus on a
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disruptive innovation the subtle but key
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difference is that sustaining innovation
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satisfies customers current needs
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whereas disruptive technologies in
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business models evolved to meet
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customers future needs these two types
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of innovation are at the core of the
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innovators dilemma following a
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sustaining innovation path makes a lot
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more sense in the short term but can
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ultimately doom the company to failure
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on the other hand dedicating valuable
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resources to a niche an unproven
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opportunity doesn't make sense but can
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be the future of the company disruptive
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innovation is often born from a need
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that exists in a niche market
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that's neglected by current market
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offerings that small market segments may
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not care about traditional performance
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features
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a great example is cameras and
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smartphones smartphones started with
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very poor camera capabilities that
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served only the lowest tier of customers
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initially they were pretty useless as
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cameras and few people would use them
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but they evolved in leaps and bounds and
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now have successfully displaced cameras
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from many traditional uses similar
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business model and technological
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disruptions appear all over the place
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Wikipedia rendered encyclopedias extinct
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Google Maps replaced expensive
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navigation systems Skype dealt a big
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blow to phone companies Netflix drove
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large video rental retail chains to
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bankruptcy the Kindle is changing book
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publishing Airbnb is driving hotel
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managers crazy an uber has taxi drivers
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up in arms the question is why are large
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well resource companies often caught
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asleep why aren't they at the forefront
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of disruptive innovation given the small
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market size and unappealing
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characteristics of a disruptive
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technology a successful company can't
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dedicate resources to small and unproven
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offerings what does this mean for large
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companies future even though disruptive
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innovations may not make sense in the
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short term they simply can't be ignored
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companies need to listen to their
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customers in order to continue
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successfully with their sustaining
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innovations but they need to look at
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niche markets and how they use their
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products in order to identify
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potentially disruptive innovations and
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embrace them for startups it's all good
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news as long as their innovation has the
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potential to improve performance rapidly
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it's actually a good thing that their
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initial market is small this gives them
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more time to fine-tune their technology
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many startups have been and will
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continue to be surprised by their much
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larger competitors indifference the
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innovators dilemma was published in 1997
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but continues to be an extremely
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insightful approach to innovation
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explaining why market leaders can't
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afford to ignore innovations that cater
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to niche markets while startups perhaps
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don't need to worry too much about their
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larger competitors a small target market
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can be the start of something really big
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you
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you
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