UPDATED: Feb 26/16. Look for [NEW]
I’m of the opinion that disruption needs to occur on an ongoing basis in order to innovate and improve. Disruption occurs within industries, companies, geographies, departments and in our lives.
When positive disruption happens we see new business opportunities, better services and new business models evolve. We also kick to the curb injustice, bad business models, overpaid professionals and out of touch companies.
Today, when we see disruption and innovation in action we think of Uber for transportation, Airbnb for accommodation, Netflix for entertainment and Theranos for lab testing. But what exactly is disruptive innovation?
What is Disruptive Innovation?
Disruptive innovation, a term of art coined by Clayton Christensen, describes a process by which a product or service takes root initially in simple applications at the bottom of a market and then relentlessly moves up market, eventually displacing established competitors.
The Innovators Dilemma
Read Clayton’s book the Innovators Dilemma in order to better understand the complex and critically important relationships between technological change and business success. It’s a must read for any professional and entrepreneur in the technology industry. The explainer video below provides a good overview.
Where is Disruptive Innovation Happening Now?
This is where theory, academia and real world examples meet in the form of links to stories, articles and videos where disruptive innovation is happening by sector.
Cross Sectors/Industries
=> Jan 19, 2016 | The Fourth Industrial Revolution | Al Arabiya News
=> Dec 4, 2016 | The 10 Most Disruptive Technologies of 2015
=> Nov 29, 2015 | My 25 Most Disruptive Brands Of 2015 | Forbes CMO Network
=> [NEW] Nov 11, 2015 | What Should Digital Transformation Mean To Your Business? | Forbes CMO Network
=> Sep 1, 2015 | How to Jump-Start a Digital Transformation | The Boston Consulting Group.
Manufacturing
This sector comprises establishments primarily engaged in the chemical, mechanical or physical transformation of materials or substances into new products. [Source]
=> [NEW] Dec 9, 2015 | The Automotive Ambitions of Samsung and Apple | Bloomberg Business
Transportation and Warehousing
This sector comprises establishments primarily engaged in transporting passengers and goods, warehousing and storing goods, and providing services to these establishments. [Source]
=> Jan 26, 2016 | The Connected Airport: The Time Is Now | The Boston Consulting Group
=> Nov 16, 2015 | Uber is not ‘genuinely disruptive’, says Clayton Christensen | The Financial Times | NOTE: you may have to fill out a survey to read the article
Health Care and Social Assistance
This sector comprises establishments primarily engaged in providing health care by diagnosis and treatment, providing residential care for medical and social reasons, and providing social assistance, such as counselling, welfare, child protection, community housing and food services, vocational rehabilitation and child care, to those requiring such assistance. [Source]
=> [NEW] Feb 19, 2016 | The Future of Wearables Is Implanted, and more real today than you think | ReadWrite
=> Jan 8, 2016 | What can we do to accelerate health innovation to reach Sustainable Development Goals? | Global Health Technologies Coalition (GHTC)
Finance and Insurance
This sector comprises establishments primarily engaged in financial transactions (that is, transactions involving the creation, liquidation, or change in ownership of financial assets) or in facilitating financial transactions.[Source]
=> Feb 11, 2016 | Wall Street Is Trying to Beat Silicon Valley at Its Own Game Banks race to beat the patent trolls—and Silicon Valley. | Bloomberg Businessweek
=> [NEW] Jan 24, 2016 | Biggest Global Banks at Davos: We’re All Fintech Innovators Now | Bloomberg Business
=> Dec 11, 2015 | Walmart Pay Is Here and These Three Companies Can’t Be Happy About It | re/code
=> Dec 2, 2015 | Manulife Offers $10,000 Prize to Innovators in its First Public Hackathon | News Release (CNW) | NOTE: Part of their push to innovate and disrupt the Insurance industry.
=> Dec 2, 2015 | The Disruption of Banking | The Economist (sponsored by HP)
=> Dec 2, 2015 | The future of the bank branch is in trouble — here’s why | BusinessInsider | NOTE: Millennials don’t visit branches.
=> Nov 26, 2015 | Ex-Barclays boss: This is the “Uber moment” for banks | The Memo
=> Oct 28, 2015 | Why Apple Pay’s Canadian launch bypassed banks | Globe and Mail
Professional, scientific and technical services
This subsector comprises establishments primarily engaged in activities in which human capital is the major input. These establishments make available the knowledge and skills of their employees, often on an assignment basis. [Source]
=> Mar 19, 2015 | Legal market ripe for disruptive innovation | Lawyers Weekly
Information and Communications Technology
This category comprises all NAICS codes that relate to information and communication technology industries. This includes portions of the following sectors: ‘Manufacturing’ (NAICS 31-33), ‘Wholesale trade’ (NAICS 41), ‘Information and cultural industries’ (NAICS 51), ‘Professional, scientific and technical services’ (NAICS 54) and ‘Other services (except public administration)’ (NAICS 81). [Source]
=> [NEW] Dec 9, 2015 | Flipping the Switch on the Internet: Get Ready for Li-Fi | Bloomberg Business
=> Nov 24, 2015 | Beecham Research Warns IoT “Overhyped” | Disruptive Views | NOTE: This is a good article that puts “IoT” into perspective.]
=> [NEW] Nov 16, 2015 | The President Of Xerox Innovation Group Discusses Her Methods And Workplace Diversity | Forbes Tech
=> Oct 2015 | How New Technology Helps Blind People Explore the World | NOTE: Is this an example of “augmented reality”?
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The Evolution (and refinement) of the Concept
Below are links to stories, articles, videos and other sources that further explain and explore “Disruptive Innovation”.
=> Dec 7, 2015 | Innovation Locked Up or Blocked? | LinkedIn Pulse
=> Dec 2015 | What Is Disruptive Innovation? | Harvard Business Review | Note: Asks the question: Is Uber a disruptive innovation? Also, was available to me as a free preview on HBR site. The video below is from the HBR post.
=> Nov 28, 2015 | The Fuss Over ‘Disruption’ | LinkedIn Pulse | NOTE: asserts that all companies need to be re-inventing themselves.
=> Nov 16, 2015 | The President Of Xerox Innovation Group Discusses Her Methods And Workplace Diversity | Forbes/Tech (NOTE: Annoying ads)
=> Jan 25, 2015 | What disruptive innovation means | The Economist | NOTE: provides various examples
=> Feb 16, 2013 | What “Disrupt” Really Means | TechCrunch | NOTE: written by former Venture Capitalist
=> Mar 30, 2012 | [Video] Disruptive Innovation Defined | HBR | NOTE: Interview with Clayton Christensen
=> Oct 9, 2011 | Disruptive Innovations That Turned Their Markets Upside Down [INFOGRAPHIC] | Mashable
This section of this post will be updated regularly so subscribe to our email updates or follow Mi6 Agency or Chris Herbert on Twitter
Chris Herbert is the founder of Mi6. Mi6 is a B2B (Business to Business) marketing and business development agency dedicated to helping companies build their brands and develop commercial relationships. He is the founder of ProductCamp Toronto and the Hi-tech community Silicon Halton. He tweets under the handle @B2BspecialistThe post What is Disruptive Innovation? Where’s It Happening Now? appeared first on MI6 Agency.