Imagine a scenario where an American manufacturing company is approached by a potential international customer/seller of machinery claiming they know the best way to avoid either party paying heavy tariffs. Right away there are several red flags indicating this could be a potential high-risk transaction. Luckily, in this recent, real-life situation, the company knew to put a call in to their legal counsel to investigate further.
In the realm of innovation, there exists a conundrum known as the Innovator's Dilemma, a perplexing choice every innovator must face. Should the innovator cater to existing customer demands, pursuing incremental improvements the market readily comprehends? Or should they leap into the uncharted territory of disruptive innovation, where the customer and market have yet to fathom the need?
Disruptive innovation starts with a problem. However, the solution is the key. It must obsolete the current way of doing things. In the case of Kodak, photographic film obsoleted the need for photographic plates. With each disruptive innovation, there is no turning back to the way things were done.
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