When you think of the companies AirBnB, Amazon, Apple and Skype what similarities can you identify? One that may come to mind is they all have disruptive business models.
Disruptive business models identify innovative ways to elevate an existing business model. This often involves solving a consumer problem in a nontraditional way. AirBnB provides a low-cost alternative to traditional hotels and Apple maintains a product line that integrates well together. This reveals AirBnB and Apple value disruptive innovation. Disruptive innovations generate an entirely new value and are generally more personalized.
What lead to this disruption trend? Many business executives identify technology as an agent of disruption. In fact, Fudnera’s disruptive business model infographic highlights “87% of executives expect that digital technologies will disrupt their industries.” This shows how technology opens new, innovative doors for existing and start up businesses.
Staying ahead of trends and valuing disruptive innovation can lead to great success in our tech based world (e.g. Amazon). Embrace new trends and seek new perspectives. This can help you draw inspiration for a product or service the world has never seen before.
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