Disruptive Innovation Strategy

Disruptive Innovation Strategy refers to a business approach that focuses on creating new markets by introducing simpler, more affordable products or services that initially appeal to less demanding customers. Over time, these innovations improve and can challenge established competitors. For example, think of how smartphones disrupted traditional mobile phones and cameras. In Strategic Innovation Management, this strategy encourages companies to explore new ideas and technologies that may seem unconventional but have the potential to reshape industries and consumer behavior, ultimately leading to significant growth and competitive advantage.