VIVEK WADHWA: Not long ago, you could see your competition coming. What you had to worry about most was a new entrant within your industry that had a simpler, lower-priced product. To stay ahead, you could either improve your product’s functionality or build new products that extended the range and value of your offerings. Management guru Clayton Christensen coined the term “disruptive innovation” to describe how competition worked: a new entrant attacked a market leader by launching low-end, low-priced products and then relentlessly improved these. Christensen created several frameworks to help incumbents defeat emerging competitors as they saw them coming.
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To read the original article: Vivek Wadhwa: How the Nature of Competition Has Changed - The Accelerators - WSJ
