Disruptive innovation is a term used to describe a new technology or approach that challenges the status quo and has the potential to dramatically alter the existing industry. Disruptive innovations often come from outside of the industry and are typically more affordable than the existing products or services.

The following statements are all true of disruptive innovations:

• Disruptive innovations provide a new way of doing something
• Disruptiveinnovations challenge the existing way of doing something
• Disruptive innovations are often inexpensive and simpler than existing products and services
• Disruptive innovations come from outside of the industry
• Disruptive innovations have the potential to dramatically alter an industry

By challenging the status quo and providing customers with a new and improved way of doing something, disruptive innovations can completely change the dynamics of an industry. Companies that are able to successfully adopt and implement disruptive innovations have the potential to gain a competitive edge in the marketplace.

Disruptive innovation is a key factor in the success of many businesses, and the implications can be far reaching. Companies should always be on the lookout for disruption and should be open to exploring new technologies that could challenge the existing models in their industry.