Disruptive innovation can best be explained as a new market emerging that captures new customers. Sustaining innovation is when a company in a market improves on the already existing product and makes it better for their current customers. With the creation of Air BnB, a disruptive innovation was created and would alter the way consumers would view travel and lodgings. As stated in this article regarding the rise of Air BnB, “The concepts of disruptive innovation are used to consider Airbnb’s novel business model, which is built around modern internet technologies, and Airbnb’s distinct appeal, which centers on cost-savings, household amenities, and the potential for more authentic local experiences.” The old ways of staying exclusivly at hotels or needing to know someone so you could couch surf were changed. Air Bnb allows any home owner to rent out their house or living space for travelers.
An example of sustaining innovation is a fast-food chain utilizing apps for quicker food ordering and delivery. The olf system of calling and ordering food already was very outdated and due for a change. The introduction of web-based applications allowed the entire ordering process to be streamlined for the customer. Restaraunts could now implement CRM technologies and be able to study and track customers who were using their mobile delivery app systems. In turn, customers could now benefit from easier ordering and faster service all around.
The science and technology behind plant-based meat alternatives, is changing the very way we view sustainability and our survival. The company that is leading the way for this new radical shift is called Impossible Food. As stated in an interview with sustainable brands magazine, “Impossible’s ultimate mission is to replace the need for animals as a global food-production technology by 2035.” (Sustainable Brands Staff). This can be explained as a paradigm shift that occurs when a new radical form of business enters the market and reshapes the way companies and organizations behave. Since the recent introduction of this plant-based meat alternative, fast food companies are all shifting to accommodate this growing demand in a new market.
References
https://www.tandfonline.com/doi/abs/10.1080/13683500.2013.827159?journalCode=rcit20
BUS 362 Sp20 