As we sit in class today, we start having a discussion about the different products and services that were introduced to the market that could be classified as: disruptive or sustaining.
Just so we're all on the same page, disruptive innovations revolves around the idea of an innovation creating a new (and unexpected) market by applying different set of values. On the other hand, sustaining innovations focus on revolutionary and evolutionary innovations by either: creating a new market by allowing consumers to solve a problem in a new way, or by improving a product in an existing way that consumers are expecting.
Let's take a look at some of our everyday examples. One of the items we can all relate to is our friendly refrigerator that sits in our kitchen. Some people fail to realize how much of an impact it had in our market, and why it would be considered such a disruptive innovation. With a product like that, ice boxes and our favourite neighbourhood milkman is no longer necessary as we can simply purchase milk from the grocery store and just store it for whenever we require to use it.
Another example of disruptive innovations is our digital cameras. I have about four of them in my household (I say "about" because I am sure my clumsy siblings lost one by now) and its quite interesting to realize how much of an impact it had on the market. The photography market used to suffer from horrible quality pictures and the long shutter lag would drive them nuts. Now, it's the least of their concerns as anyone can be walking around with hundreds of these high quality pictures literally in their pockets, stored inside of a memory card. You also no longer need to go by a shop and drop your films off to get it developed over a long duration of time. I guess the impatience in us really wins at the end of the day!
What about the sustaining innovations, you ask? Well, as much as I try to pretend like I walk around with a 20/20 vision, I cannot hide the fact that I wear contact lenses. Although, it isn't exactly putting the eye glass market out of business, it definitely got some attention as many people made that switch as soon as they could. Yet, there are always some people who can't wear them, don't want to wear them, or just want to puke at the thought of touching their eyeballs. This allows the market to continue selling eye glasses and even adapt the option of supplying contact lens to you.
One more example of sustaining innovations? Okay, but now you're asking for too much! You're taking up the time I could be spending shopping for goods on eBay! Speaking of which, it'd be a shame for me to leave out the option of online shopping, considering the amount of time I spend doing it. Our generation is getting lazier by the minute and being able to shop for goods online might just have as doing cartwheels for the first time in years! Stores are now using expanding their products/services to the virtual world and allowing you to buy what you want, and have it shipped to your front door. Talk about revolutionary!
If you're anything like me, you like to do things the traditional way and don't give in to these fancy disruptive and sustaining innovations. Now, excuse me while I put on my contact lenses, hop on the computer, watch TV on the web, with my WI-FI Internet connection.
Just so we're all on the same page, disruptive innovations revolves around the idea of an innovation creating a new (and unexpected) market by applying different set of values. On the other hand, sustaining innovations focus on revolutionary and evolutionary innovations by either: creating a new market by allowing consumers to solve a problem in a new way, or by improving a product in an existing way that consumers are expecting.
Let's take a look at some of our everyday examples. One of the items we can all relate to is our friendly refrigerator that sits in our kitchen. Some people fail to realize how much of an impact it had in our market, and why it would be considered such a disruptive innovation. With a product like that, ice boxes and our favourite neighbourhood milkman is no longer necessary as we can simply purchase milk from the grocery store and just store it for whenever we require to use it.
Another example of disruptive innovations is our digital cameras. I have about four of them in my household (I say "about" because I am sure my clumsy siblings lost one by now) and its quite interesting to realize how much of an impact it had on the market. The photography market used to suffer from horrible quality pictures and the long shutter lag would drive them nuts. Now, it's the least of their concerns as anyone can be walking around with hundreds of these high quality pictures literally in their pockets, stored inside of a memory card. You also no longer need to go by a shop and drop your films off to get it developed over a long duration of time. I guess the impatience in us really wins at the end of the day!
What about the sustaining innovations, you ask? Well, as much as I try to pretend like I walk around with a 20/20 vision, I cannot hide the fact that I wear contact lenses. Although, it isn't exactly putting the eye glass market out of business, it definitely got some attention as many people made that switch as soon as they could. Yet, there are always some people who can't wear them, don't want to wear them, or just want to puke at the thought of touching their eyeballs. This allows the market to continue selling eye glasses and even adapt the option of supplying contact lens to you.
One more example of sustaining innovations? Okay, but now you're asking for too much! You're taking up the time I could be spending shopping for goods on eBay! Speaking of which, it'd be a shame for me to leave out the option of online shopping, considering the amount of time I spend doing it. Our generation is getting lazier by the minute and being able to shop for goods online might just have as doing cartwheels for the first time in years! Stores are now using expanding their products/services to the virtual world and allowing you to buy what you want, and have it shipped to your front door. Talk about revolutionary!
If you're anything like me, you like to do things the traditional way and don't give in to these fancy disruptive and sustaining innovations. Now, excuse me while I put on my contact lenses, hop on the computer, watch TV on the web, with my WI-FI Internet connection.
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