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In his sequel with Michael E. Raynor, The Innovator's Solution, [14] Christensen replaced the term disruptive technology with disruptive innovation because he recognized that most technologies are not intrinsically disruptive or sustaining in character; rather, it is the business model that identifies the crucial idea that potentiates profound ...
The attributes that make disruptive technologies unattractive in established markets are often the ones that have the greatest value in emerging markets; He also argues the following strategies assist incumbents in succeeding against the disruptive technology: They develop the disruptive technology with the "right" customers.
Technological change (TC) or technological development is the overall process of invention, innovation and diffusion of technology or processes. [1] [2] In essence, technological change covers the invention of technologies (including processes) and their commercialization or release as open source via research and development (producing emerging technologies), the continual improvement of ...
Clayton Magleby Christensen (April 6, 1952 – January 23, 2020) was an American academic and business consultant who developed the theory of "disruptive innovation", which has been called the most influential business idea of the early 21st century.
Digital transformation (DT) is the process of adoption and implementation of digital technology [1] [2] [3] by an organization in order to create new or modify existing products, services and operations by the means of translating business processes into a digital format.
Democratization of technology refers to the process by which access to technology rapidly extends to an ever-broader audience, especially from a select group of people to the average public. New technologies and improved user experiences have empowered those outside of the technical industry to access and use technological products and services.
The technology shock increases the output given the same level of, in this case, labor. The marginal product of labor is higher after the positive technology shock, this can be seen in the MPL (blue) line being steeper. Technology shocks are sudden changes in technology that significantly affect economic, social, political or other outcomes. [1]
Public consequences comprise the impact of an innovation on those other than the actor, while private consequences refer to the impact on the actor. Public consequences usually involve collective actors, such as countries, states, organizations or social movements. The results are usually concerned with issues of societal well-being.