DISRUPTIVE
INNOVATION
PAGE 38
platform We can thus see that with the arrival
of each creative destruction innovation
telecommunications industry changed for ever
and for the better
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iNM VOLUME 9
Course offers students across the globe a
chance to listen to star lecturers and get a
degree for a fraction of the cost of attending a
university Though not a institutions destroying
technology yet it is definitely on its way
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Today the innovations in information
technology are altering the manner in which
business is done and value is created in ways
and at a speed that was not readily foreseeable
a couple of years ago This change is not limited
to just the IT or the telecommunications
industry Netflix damaged the business model of
Blockbuster video rentals forever Automobile
industry s driverless cars Defence sectors larger
automated surveillance drones are two perfect
examples of creative destruction Manufacturing
companies have also adopted new creative
disruption technologies to increase their output
to about three times of what it was a couple of
years ago
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The field of Marketing too has been witnessing
a phase of creative destruction for some years
now Nike shoes came up with a brilliant tactic
both literally and figuratively breaking through
an over sponsored event of 2012 London
Olympics with the best endorsement possible
having athletes across the globe sport different
jerseys but one brilliantly Neon coloured shoe
It had a significant risk as people do not often
buy neon coloured shoes but it paid off The
shoes stood out on all platforms from mobile
to big screen TVs
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iTunes first introduced the concept of
purchasing one song by an artist and catered
to the desire of customers of avoiding entire
album they were not going to listen The idea
was well received by consumers as single songs
were not available on compact discs or audio
cassettes and the government was regulating
online file sharing sites such as Napster
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Take Social Media more than 350 million photos
are uploaded on Facebook alone each day
Snapchat is a smartphone app developed by
Evan Spiegel and Bobby Murphy offering self
destructing photo sharing By rendering digital
photos fleeting rather than archival Snapchat
offers a credible alternative to our constantly
tracked inerasable life on the Internet In
Finance Kickstarter is a really efficient way for
creative people to raise money via the masses
with Kickstarter taking only 5 cut in every
transaction In the world of mainstream media
BuzzFeed took the buzz out of the giants by
bringing in the idea Create content and ads
that we can t resist passing along to
everyone MOOC or Massive Open Online
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The use of SaaS for talent management HR
applications is the path to the future SMEs are
increasingly adapting to the use of SaaS HR
applications for payroll and benefits The survey
by PwC in 2013 reports that about 56 of all
SMEs and MNCs are in talks with migrating to
SaaS based HR applications Social Media
Recruiting and Gamification have changed the
HR practices for ever
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