INNOVATION – INSIGHT 9 Improving your product or service for existing markets is all about extending the product life cycle through SUSTAINING. This is valuable but ultimately delivers diminishing returns and it is very often the case that the upgrade eventually extend beyond the capabilities or requirements of the market. This might be an effective […]

INNOVATION – INSIGHT 9 Improving your product or service for existing markets is all about extending the product life cycle through SUSTAINING. This is valuable but ultimately delivers diminishing returns and it is very often the case that the upgrade eventually extend beyond the capabilities or requirements of the market. This might be an effective way of temporarily extending the lifespan of a product or service but has a limited life and will not sustain the business indefinitely. Disruptive innovation on the other hand is about developing the next generation of your product or service, or indeed any product or service. More often than not disruptive innovation makes a product or service more accessible to a new market or broader range of markets. Examples of disruptive innovation include the desk top taking over from the mainframe; the laptop taking over from the desk top and the palm device taking over…