What is Disruptive Innovation, and what are best practices, tools and online templates for teams and organizations?
Definition of Disruptive Innovation
A Disruptive Innovation is one that uses new technologies or business models to make existing products and services accessible to the market. To be considered disruptive, the product or service should be made more affordable, targeted to a less profitable or untapped segment of the market, or benefit all of the parties in a network or business model in a new way.
Description of Disruptive Innovation
Typically, Disruptive Innovations come about because mature companies innovate beyond what their customers actually need. As a result, companies must charge an exorbitant price for an overly complicated product or service that a very small portion of the market actually needs or uses. Consequently, there is a significant portion of the market that the company does not profit from and space exists for competing organizations to create simpler products or services that better meet the needs of this untapped market.
Disruptive innovations tend to be created more in start-up companies than larger organizations. Established businesses are more interested in creating innovations that can sustain their companies versus cannibalize their existing products and services. Creating disruptive innovations requires a resource investment, although these products and services are generally not profitable from their start. Further, it is harder to get stakeholder buy-in for these innovations because they would rather invest these same resources in cutting-edge products and services that would help create a competitive advantage for their existing solutions.
Tools & Templates
The tools that can be used for Disruptive Innovation are often tied to approaches like Lean Startup, Discovery Driven Planning, Design Thinking and other front-end innovation processes.
upBOARD's Online Disruptive Innovation Tools & Templates
Unlike most traditional Disruptive Innovation processes, upBOARD’s online Disruptive Innovation tools allow any team or organization to instantly begin working with our web templates and input forms. Our digital platform goes far beyond other software tools by including progress dashboards, data integration from existing documents or other SaaS software, elegant intuitive designs, and full access on any desktop or mobile device.
Learn more about upBOARD’s library of other innovation management online best practice tools and templates, including:
70-20-10 Rule, Agile Innovation Process, Brainstorming, Business Case Development, Business Model Canvas, Concept Development, Concept Screening, Concept Testing, Context Canvas, Crossing the Chasm, Crowdsourcing, Customer Empathy Map, Customer Problem Statements, Design Thinking, Disruptive Innovation, Empathy Interviews, Ethnographic Research, Experiment Canvas, Innovation Funnel Management Process, Innovation Horizons Model, Innovation Matrix, Innovation Roadmap, Jobs to be Done, Lean Startup, Listening Hats, Minimum Viable Product, Open Innovation Process, Outcome Driven Innovation, Painstorming, Phases & Gates, Rapid Prototyping, Saturate and Group, SCAMPER, S-Curve Mapping, Stage Gate Process, Startup Innovation Management, Technology Life Cycle, Technology Scouting, Teece’s Win-Lose Innovation Model, Value Proposition Canvas and White Space Innovation.