Question

What is a development so fundamentally different and far reaching that it can create new professions, companies, or even entire industries while damaging or destroying others?

Answer 1

Disruptive innovation s a development so fundamentally different and far reaching that it can create new professions, companies, or even entire industries while damaging or destroying others.

The process by which a smaller company—typically one with fewer resources—moves upwards and competes with more established, larger companies is known as disruptive innovation. Disruptive innovation, according to business theory, is innovation that establishes a new market and value network or enters a market from the bottom and eventually supplants long-established market-leading companies, goods, and alliances. An established market was disrupted by Netflix using a new business strategy and technology, a prime example of disruptive innovation. It began by providing a DVD rental by mail service and later introduced its online, paid movie streaming service.

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