In and devastate competitors overnight. Unlike its disruptive

In
Big Bang Disruption, Larry Downes and Paul Nunes explain that, even though
disruptive innovation is not new, it is morphing into a new form.  In an environment of repeated disruptive
technology, with the explosion of the Internet, global computing, and mobile
smart devices, Big Bang Disruption can overtake markets and
devastate competitors overnight.  Unlike
its disruptive innovation forerunners, it attacks existing markets from the top,
bottom, left and right.  By using inexpensive
technologies and crowdsourcing to bring new products and services to the market
rapidly, competition might never see it coming. 
Before Amazon, there was Sears, the retail
disrupter of its day.  Its mail order
catalog forever changed how goods were sold, and in what might be considered an
early example of the Amazon Prime business model, they charged for it.

Several
key points are made within the article. For example, “It’s
a tough place to be in as an incumbent”. 
Often, companies don’t see the writing on the wall, however, even when
companies do everything right, build an amazing company, develop an amazing product,
an excellent culture and brand name and despite all of that, they get disrupted
lightning fast.  The point being is that
companies could cushion themselves and build a safeguard but cannot ward off
disruption.  With the advent of smartphones,
the pace of disruption has intensified, and disruption has alleviated itself
from being a dilemma for innovators to triggering disasters for incumbents.  If we think about Garmin, Magellan or even TomTom, these well-known GPS products were all
displaced overnight by an application on a smartphone.  Google Maps wiped that market segment off the
planet in a matter of months. However, there have been instances, albeit
few and far between, when the incumbents have taken the fight to the disruptors.  Swatch shifted its paradigm from a watch
viewed as a piece of jewelry to a fashion piece.  This shows a willingness to pivot and give
the consumers a third option. 

We Will Write a Custom Essay Specifically
For You For Only $13.90/page!


order now

Another point made
was “Its unprecedented pace”.  What is surprising,
was not the urgency in which a small team of innovators went from insignificant
to becoming a household name but, the speed at which large corporations have declined
from being the benchmark to being bankrupt.  Blockbuster Video Renal went from being a
multi-billion-dollar company to a zero-dollar company in just one year and
disappearing. 
A further point “Companies thin on technology and heavy on business models lead
the way”.  When Netflix evolved, they had
clearly innovated and gone above and beyond what any other company had done.  However, mobile devices now have more computer
power than the spacecraft that landed the first man on the moon, companies are
leveraging them with very little added technology value. 

What
makes this article so fascinating to me, is its emphasis on creation.  Creation that does not spring from a single
innovator striving in anonymity, but in the context of a world of suppliers,
other innovators, and the individuals who make it all work.  The very concepts of innovator, supplier, and
customer are changing as these people bring new innovations into being,
together and with a shared sense of purpose. 
In this light, innovation is an act of creation that can bring all
humans on Earth together.  Now
more than ever there is a need to figure out the vulnerabilities in a company’s
business model and how they can continue to add value.  Development of thoughts and ideas are the
roadmap to future success. 

Through our
classroom study, for companies to stay competitive and reach their full
potential, they must either acquire the disruptor and absorb their talent, Intellectual
Property (IP) and products or cultivate and launch a new product line based on
new technology.  This is seen when Amazon
launched the Kindle reader.  Learning
from the failed attempts by other companies, Amazon was able to launch a reader
that met the requirements that consumers were looking for.  These included longer battery life, more
storage capacity, the ability to read outside, and the luxury of having an
entire library in the palm of their hand. 

Companies will ultimately need to shift their
paradigm.  With the speed at which
disruptions occur, companies need to seek out these innovators and encourage
them to join their team.  Leadership must
be knowledgeable about megatrends that are fixed to facts.  Leaders also
need to be aware of new paradigms and how these new paradigms are
shifting.  To remain competitive,
businesses must explore the opportunities and business models of these new or
emerging paradigms.  To create
interesting opportunities and employment, leaders need to shift their
perspective from an idea towar