American business theorist who developed the theory of disruptive innovation — explaining why successful companies fail when confronted with new entrants offering simpler, cheaper products.
Disruptive innovation: new entrants initially offer inferior but cheaper products at the low end of the market or in new markets — incumbents rationally ignore them, then are blindsided when they improve. The Innovator's Dilemma: good management practice (listening to customers, investing in high margins) is precisely what causes established firms to miss disruptive innovations. Jobs to be Done: customers 'hire' products to do jobs.
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