Innovation expert Ron Price discusses disruptive innovation—and how it changes the rules of the game.
Episode Transcript
What is disruptive innovation? I’m Ron Price, co-author of The Innovator’s Advantage. An innovation that disrupts current practices or expectations changes the rules of the game. Think about the iPod when it first came out—a place where you could capture your music in a small portable device—you no longer needed CDs or cassettes or 8-tracks or vinyls. That was disruptive! And think about the library that delivered that music to you over the internet for the first time. You didn’t have to go to a music store to build your playlist. Think of the smartphone. It was more than just a phone—we called it smart because it included a camera, a calendar, a to-do list, an address book, and, oh yeah by the way, also a telephone. Think about the electric car. No gas stations! No need to change the oil! That was disruptive. Disruptive innovations can be a new product. They can also be a new process, or a different way of relating with your customers, or a completely different set of rules for business. Just think about Tesla—they have no car dealerships anywhere! So until next time, keep innovating.
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