According to Apple co-founder Steve Jobs, creativity was all about connecting things through links that others have yet to decipher correctly. Collected.Reviews of famous innovators, including those heading financial aid companies, point to several approaches towards creativity. These approaches include open innovation, adaptive strategies, a startup mindset, harnessing emerging trends, and meeting unfulfilled customer needs or frustrations.
The disruptive innovation was originated by Clayton M. Christensen in 1995. At that time, Christensen was not talking about innovation that could make better products. It is essential to point out the fact that innovations occur in every industry. However, design can only be regarded as disruptive if the product or solution has been transformed to such an extent that it can no longer be manufactured by few people with vast sums of money. In other words, disruptive innovation is a low-grade solution that is readily available to a large population section. The ease of availability transforms the industrial landscape and overthrows existing market leaders.
Need of Taking Risks
If anyone intends to create disruptive innovation, s/he must explore new and better ways to solve problems. However, it is essential to emphasize that the element of risk needs to be undertaken for disruptive innovation. The focus here on taking risks has been stressed because our society, in general, has become risk-averse. A famous innovator once said that if you are not willing to take risks, you will never secure quantum breakthroughs.
In recent years, ‘disruptive innovation’ has emerged as a buzzword that mostly resonated within the startup and tech ecosystem. The people who heralded in causing disruptive innovation are mostly underdogs who can capture overnight successes by changing industries through companies, products, or services.
Fact About New Technology
Human history is a testament to the fact that new technologies cause disruptions. In the past, we have seen how the advent of electricity, the internet, or mobile has transformed the global economic landscape. However, it is essential to mention here that new technologies should not always focus on disrupting markets. In this regard, it is observed that spotting and capitalizing on trends can be enough for new technologies.
With the advent of personal computers, Apple decided to go granular and focused on creating more personalized and smaller devices. Today has created a niche of its own, starting from iPod to iPhone and iPad. Today, Apple is harnessing the potential of digital wallets through Apple Pay. The same approach is taken concerning Apple Watch.
Meanwhile, powerful innovations emerge when a nexus of trends and technology is integrated with networks. A case in point is Theranos, a healthcare company focusing on therapy and diagnosis. The company has offered several diagnostic tests at a fraction of costs while extracting few blood drops. The CEO of Theranos, Elizabeth Holmes, empathizes upon the key underappreciated ingredients for disruptive innovation known as spunk and courage. According to Apple co-founder Steve Jobs, only those who can change the world are crazy enough to think that they can do it.