Disruptive Innovation is a concept that refers to an innovation that significantly alters the way consumers, industries, or businesses operate. It typically arises from products or services that create new markets by discovering new categories of customers or by driving down costs dramatically, often at the expense of established market leaders. Industries adopt disruptive innovation to stay competitive by embracing changes that can potentially overthrow conventional business models, which often leads to market growth and the development of entirely new industries. It's used strategically to capitalize on novel technologies and processes, ensuring long-term survival and continued relevance in a rapidly evolving marketplace.
