The Innovator's Dilemma
- Two kinds of technologies: disruptive and sustaining.
- Being a first mover is an advantage when developing disruptive innovation, and indifferent when acting in an established market.
- Disruptive technologies involve existing technology in a new architecture — tend to be simpler, cheaper, and more reliable.
- Disruptive tech should be framed as a marketing challenge, not a tech one.
- Market leaders can solve the innovator's dilemma by acquiring or founding subsidiaries.
- Innovation is a resource allocation problem. How to justify.
- Companies succeed and fail for the same reasons. The only differentiation is when they are confronted with a disruptive technology.
- Creating new markets is less risky and more rewarding than entering established markets against entrenched competitors.
- Identify disruptive tech by graphing performance demand in the market vs. performance improvement supplied by the technology.