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What does the term 'disruptive innovation' refer to in a business context?

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Question: What does the term \'disruptive innovation\' refer to in a business context?

Options:

  1. Incremental improvements to existing products
  2. Innovations that create new markets and value networks
  3. Technological advancements in production
  4. Cost-cutting measures in operations

Correct Answer: Innovations that create new markets and value networks

Solution: 

Disruptive innovation refers to innovations that create new markets and value networks, often displacing established market leaders.

What does the term 'disruptive innovation' refer to in a business context?

Practice Questions

Q1
What does the term 'disruptive innovation' refer to in a business context?
  1. Incremental improvements to existing products
  2. Innovations that create new markets and value networks
  3. Technological advancements in production
  4. Cost-cutting measures in operations

Questions & Step-by-Step Solutions

What does the term 'disruptive innovation' refer to in a business context?
  • Step 1: Understand that 'disruptive innovation' is a term used in business.
  • Step 2: Recognize that it refers to new ideas or products that change the way things are done.
  • Step 3: Note that these innovations often create new markets that didn't exist before.
  • Step 4: Realize that disruptive innovations can make existing products or services less popular.
  • Step 5: Understand that established companies may struggle to compete with these new innovations.
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