Disruptive
innovation

What is disruptive innovation? Business school professor Clayton Christensen coined the term in 1995 to describe his theory of how new companies displaced incumbents by targeting less profitable parts of the market that the older, better-resourced companies had ignored. As an example, he gave Canon’s introduction of small low-cost tabletop photocopiers, which took market share from Xerox’s more fully featured and costly machines.

However, today the phrase is more widely used to refer to new products or processes that shake up the status quo. They do so by providing a much better experience, increasing access or offering superior pricing. Companies that develop such innovations or that succeed in taking advantage of them can gain a competitive advantage, either leapfrogging rivals or strengthening their own market position.

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