Ep40: What’s all this buzz about Disruption?
Today we had a heated discussion on what innovation and disruption meant and how it affects you and I as entrepreneurs.
So many people have coined words trying to explain or further show the significance of innovation the the African entrepreneur.
Disruption and innovation does not occur in a Vacuum, they only happen when you identify a need to be solved.
We further tried to differentiate between Invention, Innovation and Disruption.
Invention is the creation of a new product or process that did not exist previously and is recognized as the product of some unique intuition or genius.
Innovation moves one step further and requires implementation of the inventive act. Innovation is creating new value and/or capturing value in a new way.
Disruption is a product/service that causes a radical change in an industry and results in a new market or stream of income.
A better, cheaper, faster product is not necessarily disruptive but innovative.
What is your innovation all about?
- It could be radical or disruptive
- It could be a redefinition of how a company operates, a change in Business model
- It could also be continuous improvement of a product or service.
Listen to our conversation below:
What do you think? Drop your comments below
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