PAGE 3 DISRUPTIVE INM VOLUME 9
INNOVATIONS mainstream requires lots of business model and process changes , which were fundamental to the disruptors . Hence , a lot of these disruptors join hands with larger , more established organisations , which have huge resources at their disposal . WhatsApp , which was successful in eliminating the text message space , and its acquisition by Facebook is one such example ; the other one being acquisition of YouTube by Google .
Change is a requirement Nowadays , companies have identified the need and are themselves looking for disruptive innovations from inside their own organisations . Disruptors usually enter in the lower-end and end up putting a downward pressure on the industry , and eventually over-take a huge chunk of the market . One of the biggest advantage to these emergent is the first mover advantage , which these companies leverage
Companies leverage this structure . identifying these disruptors at a small scale and making a transition in the business model to adapt to these is a must for organisations to survive . Evolution of photography from the chemical to digital , is an insightful example to explain the same . Incumbent leaders like Kodak and Polaroid , understood the shift , but due to organisational priorities , constraints and internal conflicts , the shift could not be made , leading to these organisations losing the complete customer market space . This is usually a result of Marketing Myopia , where the businesses are too focused on their narrow offering and major consumer base , that they turn a blind eye to the shift in industry preferences and practices . The need of the day is to proactively identify and adapt to these changes and work towards a business model to maintain a hold on the market and evolve business practices to meet the changing consumer preferences .
fully , but the risk involved is also high .