Disruptive Innovation

Disruptive innovation refers to the process where a smaller company, often with fewer resources, challenges established businesses by introducing simpler, cheaper, or more convenient products or services. Initially, these innovations may seem inferior and appeal to niche markets. However, over time, they improve and attract mainstream customers, often displacing established competitors. This concept highlights how innovation can shift entire industries, forcing traditional companies to adapt or risk obsolescence. Examples include digital photography disrupting film cameras and streaming services upending traditional cable TV.