One Minute Blog: 8 Standout Learnings from the Book: “The Innovator’s Dilemma”

Recently got to read the “Summary of The Innovator’s Dilemma”, a book that has acquired cult status in Innovation circles and I have seen this being quoted in many Innovation discussions I have been a part of in my professional life.

Have shared 8 learnings, that I reproduce from this book, read on:

• New Technology Improvements: Improvements to a new technology are easy at first but become more difficult to achieve over time.
• Categories of Tech Innovations: Technological innovations can be divided into two types: sustaining innovations and disruptive innovations.
• Price Point Plays a Role: Disruptive innovations are often able to earn a place in the market by focusing on price point.
• Listening to Customers not Always Helpful: Listening to customers and responding to their wishes can actually be counterproductive. Disruptive innovations create their own markets.
• Conducting Market Research not Always Helpful: While market research is a key point of product development in large firms, it is impossible to do market research with customers and clients of new technologies.
• New Entrants Often Have More Advantage: Market dynamics can favour new entrants into a business’s sector at the expense of well-established firms.
• Bureaucracy is an Innovation Killer: Large companies are bureaucratic. Innovation within them is often difficult as a result.
• Make Special Effort to Retain Top Talent: Defectors who leave successful companies to start rival firms can be a serious challenge to the position of established firms in the market.

If you have read The Innovator's Dilemma, please share your thoughts in the comments. If you haven’t read it, would highly recommend reading it.