One type of change to consider is disruptive change or innovation. Disruptive innovation is a relatively new term coined in 1995 by Bower and Christenson. In essence, this is any new or different approach to a product or services that radically changes the market. This kind of radical change is hard to predict from your competition, but just the type of internal innovation that change managers want to develop their competitive advantage in the market. Organizations that empower employees to create innovative products, or services are the hallmark of industry leaders.
The companies who are the disruptive innovators are companies that compete in the market differently, serving an underserved or unserved customer base, and do so typically at a lower price. One example of this kind of disruptive innovation was the emergence of Amazon into the retail space. Amazon was one of the first companies to consider e-commerce as the primary method of book and then other product distribution. This disruptive approach to business has, through its growth, affected retail so much that historical physical retailers companies are weakening or closing. Retailers that were once the largest retailer in U.S. cities no longer exist or are failing because of the disruptive innovation of companies like Amazon and its largest competitor, Walmart. The disruptive innovation and efficiencies of both companies impact not only retail, but logistics, technology, and public buying trends.
Instructions
For this assignment you will be selecting a company of your choosing to compare disruptive innovation approaches. You will be comparing your selected company with either Walmart or Amazon (select one). Through your examination you will examine how these companies embraced disruptive innovation strategies, their impact on the market, and the challenges they encountered.
Cover the following elements in your examination:
Section 1: Overview of Disruptive Innovation
- Definition and Characteristics of Disruptive Innovation
- Importance of Disruptive Innovation in Modern Business
Section 2: [Company you choose to compare]
- Introduction, Background, Industry
- Key Innovations Implemented by the Company
- Impact of Disruptive Innovations on the Company's Market Position
- Challenges Faced by the Company in Implementing Disruptive Innovation
Section 3: Walmart or Amazon (Choose one or the other, not both)
- Introduction, Background, Industry
- Key Innovations Implemented by the Company
- Impact of Disruptive Innovations on the Company's Market Position
- Challenges Faced by the Company in Implementing Disruptive Innovation
Section 4: Comparative Analysis
- Similarities and Differences in Disruptive Innovation Strategies among the Two Companies
- Evaluation of the Effectiveness of Disruptive Innovation Strategies
- Lessons Learned from the Companies' Approaches to Disruptive Innovation
Length: Your assignment is to write a paper of 6-7 pages, not including a cover page, references, or appendices.
Please consider that those holding doctorates in business are often hired for their professional and academic expertise to offer solutions to businesses in need. This assignment is geared toward helping you discover how you might respond if asked to act in this role.
References: Include at least 4 references on your selected company.
Your paper should demonstrate thoughtful consideration of the ideas and concepts presented in the course and provide new thoughts and insights relating directly to this topic. Your response should reflect scholarly writing and current APA standards. Be sure to adhere to National University's Academic Integrity Policy.