In his series of books on innovation, Harvard Business School Professor, Clayton Christensen makes one of the most compelling cases yet for the following maxim: You can build a better mousetrap, but that doesn’t mean they will necessarily use it.
Christensen’s argument goes something like this: Innovations that disrupt markets nearly always start with a new, or newly applied, technology that offers a significant improvement over previous ones. But, great technology alone is not enough for success.
To truly shake things up in a market, innovations also need new business models as well as what Christensen calls “value networks” – new supply chains, channels to market and so on. Without such support, established leaders can squash or co-opt new players, sometimes killing or at least sidelining their innovations along with them. Sometimes it can take a long time for new business models and value networks to evolve in support of…
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