Why Do Incumbent Businesses Often Struggle with Disruptive Innovation?
Incumbent businesses frequently struggle with disruptive innovation for several reasons: - Resource Allocation: Companies allocate resources to projects that promise the highest returns, often ignoring smaller, less profitable markets where disruptive innovations thrive. - Customer Focus: Incumbents listen to their existing customers who demand better versions of current products, not entirely new solutions. - Organizational Inertia: Established processes and structures can make it difficult for incumbents to pivot and adopt disruptive innovations quickly.