Neha Rani (19) Assignment-3
The theory of disruptive innovation was first coined by Harvard professor Clayton M.
Christensen in his research on the disk-drive industry and later popularized by his book
The Innovator’s Dilemma, published in 1997.
The theory explains the phenomenon by which an innovation transforms an existing
market or sector by introducing simplicity, convenience, accessibility, and affordability
where complication and high cost are the status quo. Initially, a disruptive innovation is
formed in a niche market that may appear unattractive or inconsequential to industry
incumbents, but eventually the new product or idea completely redefines the industry.
Today, several examples of disruptive innovation exist worldwide but some of the
promising disruptive innovations for the next decade can be following:
1. Use of Cloud: These days, cloud computing is a common term but in coming
years cloud will be about disappearing computer. With the increase in the
mobility, laptop or desktop computer may be replaced with supercomputer-like
power built into handheld devices.
2. Virtual Schools: In next decade, virtual schools can replace traditional schools
due to associated benefit of customization of the learning styles as well as the life
situations of an individual student. Education can be freed from geographical
constraints of districts and students can have more individual interaction with
teacher, parents can readily be included in the education process, performance
can be measured and guided through sophisticated data systems at much
affordable cost.
3. The future of digital currencies: A digital currency that addresses regulatory
concerns at the design stage and builds on these benefits could within the next
five years have a transformational effect on global finance and trade. It could also
pose risks to financial and monetary stability. There is good reason therefore for
the next crop of digital currencies to be designed...