While all the industries in the world getting bombard by the disruptive innovations such as Airbnb, tesla, lyft, twitter, chrome etc. as srilankans, why are we still not contributing? Don’t we have great ideas to be a disruptive innovator. Why are we only following disruptive business modules and not trying to be disruptive innovators, the flag is raised and I am on the search of srilankan disruptors in terms of innovation & entrepreneurship.
The importance of disruption more emphasized by media giants, CNBC, produces an annual “disruptor’s list” of the most disruptive companies, TechCrunch, a technology-news website, holds an annual “festival of disruption”. Let’s dive deeply in to the subject and find who the disruptors are.
Disrupt – Meaning
The word “Disrupt”, originated from Latin in 1800 and became very popular in 2000, Disrupt is not a so cool word till it combines with innovation (Disruptive innovation), the definition of the word “disrupt” or “disruptive” is “interrupt (an event, activity, or process) by causing a disturbance or problem”.
Disruptive innovation – Meaning
Image Credit – Wikipedia
As per Wikipedia, a disruptive innovation is an innovation that creates a new market and value network and eventually disrupts an existing market and value network, displacing established market leading firms, products and alliances. The term was defined and phenomenon analyzed by Clayton M. Christensen beginning in 1995.
As per claytonchristensen.com, Disruptive innovation, a term of art coined by Clayton Christensen, describes a process by which a product or service takes root initially in simple applications at the bottom of a market and then relentlessly moves up market, eventually displacing established competitors.
Global examples of disruptive innovation
Video Credit – Harvard Business Review – you tube channel
Tesla – is a major American automaker, energy Storage Company, and solar panel manufacturer based in Palo Alto, California. The Company was initially founded in 2003 by Martin Eberhard and Marc Tarpenning, although the company also considers Elon Musk, JB Straubel, and Ian Wright amongst its co-founders. The company specializes in electric cars, Lithium-ion battery energy storage, and, through their SolarCity subsidiary, residential solar panels – Wikipedia
UBER – Uber Technologies Inc. is a transportation network company headquartered in San Francisco, California, United States, operating in 570 cities worldwide. It develops markets and operates the Uber car transportation and food delivery mobile apps. – Wikipedia
Snapchat – Snapchat is an image messaging and multimedia mobile application created by Evan Spiegel, Bobby Murphy, and Reggie Brown, former students at Stanford University, and developed by Snap Inc. – Wikipedia
Spotify – Spotify is a music, podcast, and video streaming service, officially launched on 7 October 2008. It is developed by start-up Spotify AB in Stockholm, Sweden. – Wikipedia
Lyft – Lyft is a transportation network company based in San Francisco, California. It develops, markets and operates the Lyft car transportation mobile app – Wikipedia
Pinterest – Pinterest is a web and mobile application start up that operates a software system designed to discover information on the World Wide Web. The site was founded by Ben Silbermann, Paul Sciarra and Evan Sharp. Pinterest promoted as the world catalogue of ideas. – Wikipedia
What it takes to be a disruptor?
video Credit – www.marketingweek.com
- Disruptors have eyes to spot problems and they think of better solution.
- Disruptors choose a problem that they are passionate about.
- Disruptors are ready sacrifice and believe in their solution.
- Disruptors sets milestone which other people try to copy.
- Disruptors won’t do things differently, disruption is not doing things differently, it’s all about changing the game.
- Disruptor has to be able to see a new opportunity that established brands failed to see.
Brands such as Airbnb and Uber are perfect examples of where someone has come in, disrupted and completely turned that industry on its head.
As per economist.com, the influence of disruptive innovation made fortune 500 company CEO’s average job tenure to 5 years from 10 years, But possibly the most surprising disruptive innovations will arise from entrepreneurs who are discovering new ways of delivering education and health-care for a fraction of the cost of current market leaders.
The question is still on, Are we disruptive enough to change the game? Or are we just going to follow the tide?