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Post by David Wyld on Nov 22, 2013 22:12:39 GMT -6
Students, Please view and comment on this link of the day - yes, for your education, but also for the points, of course! Watch the video below: TITLE - The Explainer: Disruptive InnovationThen, post a comment in reply to this discussion thread. Again, what to post? Here are some ideas: + What did you take away from the video? + How does the video relate in some way to your past experience (work, as a consumer, family, school, etc.)? + How might you use these ideas in your own career? Good luck! David
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Post by tscott88 on Dec 8, 2013 9:02:28 GMT -6
Don't be disrupted if you fail to please all your customers or if you neglect some of your consumers. To please the consumers that are paying high dollar and neglecting those who are actually buying products on regular basis. You have to focus on all your clients. If you fail at this companies like Toyota move in on Ford and GMC. focus on your entire customer demographic.
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Post by sunnigrabert on Dec 8, 2013 17:33:03 GMT -6
With the business world as huge as it is, it is hard for new businesses to break into the industry. So the best way to break in is to find something that people are upset about the bigger companies doing. Communities find it extremely satisfying to support local businesses, so a lot of times there may already be a industry giant in the city, but people prefer to go to a locally owned store. For example, there is an Academy on Vets Blvd in Metairie, and there is a store called Phidippides, which is locally owned. I spent a little more on my shoes at Phidippides, but they helped me figure out why I was getting shin splints every time I ran. The kids at Academy wouldn't have had any interest in doing that.
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Post by abramt110 on Dec 10, 2013 8:10:42 GMT -6
Communities find it extremely satisfying to support local businesses, so a lot of times there may already be a industry giant in the city, but people prefer to go to a locally owned store. To please the consumers that are paying high dollar and neglecting those who are actually buying products on regular basis. You have to focus on all your clients. If you fail at this companies like Toyota move in on Ford and GMC.
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Post by bcedotal on Dec 10, 2013 11:14:13 GMT -6
Innovation in small businesses is an excellent way to fuel lower prices. With innovation, companies are constantly finding better and cheaper ways to make products that will satisfy customer needs. When small businesses can accomplish this, it helps lower prices even more since larger companies have to try their best to catch up.
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Post by bethanyhunt on Dec 10, 2013 17:09:45 GMT -6
Disruptor innovators see what a larger company is doing and uses that idea to their benefit to increase their market value. They basically do the same thing but in a most cost effective way. Because their price is cheaper and saves the customer money, they gain more business and take away from the larger market. This helps a small business grow by taking business away from the larger business.
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Post by kelseywatson on Jan 29, 2014 15:07:39 GMT -6
I learned from this video about something that I have never heard before called disruptive innovation. Disruptive innovation is when someone takes your ideas and makes them better for others to buy or purchase. They steal your business from right under your feet. The video states ways for people to avoid being disrupted. According to the video, "You want to be a disruptor not disrupted."
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Post by pellirf22 on Jan 29, 2014 15:59:25 GMT -6
TITLE- The Explainer: Disruptive Innovation
I think disruptive innovation is a short-term way of thinking that does not actually work. In today’s business world new ideas and innovation are predominately controlled by the large industry leaders in that field. Disrupting the business of the larger businesses by creating a more cost effective substitute may cut out a small portion of the market to take advantage of but will not sustainable improve in market share. In almost every industry competitive leaders have perfected the ability to provide either cost effective or high quality products that specifically cater to their target market. They have considerable funding and in many cases flexibility to quickly adapt and take control of any changes in the market.
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Post by rjmonico on Jan 29, 2014 21:14:19 GMT -6
I would share this link with my colleagues and friends. Thank you Professor! I feel that big corporations are focused on expanding on existing products and in the end are concerned about volume and not the customer. I work in industrial sales for a 50 year old family business that is very successful. What I enjoy about my job is our prices are affordable but we sell great products and take care of our customers. Customers come back because we care and take care of their construction needs. When competing with the corporate world you have to know how to outsmart and capture/build relationships with customers to maintain a successful business.
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Post by Rosie on Feb 1, 2014 14:00:29 GMT -6
I have never heard of distributive innovation before this video, but I feel that successful distributive innovation requires it's users to be aware and conscience of it's customers. Although I did not previously know what the term meant, I've seen it being done all around. This is a smart way to create business for companies that aren't the major players. In a way, they reshape a larger companies ideas, and pick up the pieces they've left behind when growing. This is a very smart move to produce cheaper products and generally increase profits.
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Post by mwinner123 on Feb 1, 2014 14:38:02 GMT -6
One of the biggest things that companies do in the business world is build competition. This is a very informative video that shows you can be successful, even if you are a small start up company. In most cases, customers don't care about the "company name", but rather the product itself. Sure, in the aspects of Mercedes Benz and other high end products, there is a loyal following, but not in every case. As a small business owner or start up, we should always focus on that one, popular product that everyone is buying and desiring. Then, in the example of Hyundai, we offer a less expensive model that still focuses on the aspects that customers want, but not necessarily all the novelties that larger companies put into products. Oftentimes, like the video said, it is the smaller companies that can actually change or shape the mindset of the larger companies. Larger companies depend upon their large customer base and are confident that the loyal few won't leave. However, when the same product is offered for a smaller price and is competitive to the current model, even the most loyal customers can be known to bail on their long-time loyalty. Don't be afraid of the big businesses, because often, they are looking at you to develop their own business models and execution.
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Post by ken9390 on Feb 3, 2014 10:22:00 GMT -6
Disruptive innovation is a new term for my vocabulary. The idea makes sense and is very practical, but it has never been presented to me in that way. This idea is a great one to keep in mind when competing with larger firms (which is something that all business owners have to keep in mind). Innovation is always a great way to keep your company at the forefront of the competition and on the cutting edge of the market. Stagnant companies that lack innovative thinking will be replaced with the more innovative firms.
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Post by Jessica Aucoin on Feb 3, 2014 18:05:09 GMT -6
A disruptive innovation is when a new market breaches into existing markets and disrupts their sales by creating a product similar to the competitor but without all the extra baggage. With this type of system, it allows small businesses to be able to break into the market and actually be able to compete with big businesses. Also, supporting small local business today is definitely a trend so that fact also helps small businesses become disruptive innovations. I feel like it’s important to have this competition in the market so small business have a chance to survive and to help stop corporate monopolies.
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Post by katelynjones on Feb 4, 2014 17:10:50 GMT -6
Adding all the great upgrades, bells and whistles is great to people who are looking for that. But some companies are forgetting how they got to place right before then. Average customers are what make up a large amount of your business. Aiming to please a variety of customers is great. But remember the main focus of the company and stick to the goals and ideas.
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Post by lmoore on Feb 5, 2014 10:31:32 GMT -6
Disruptive innovation is something I was aware of but did not know the term. It is when a smaller, new market comes into the existing market and creates a similar product that larger markets are selling. The disruptor improves the product and sells it at a lower price. This innovation creates new markets. The bigger players attract the higher paying customers and ignore the regular ones. This allows the smaller markets to be competitive.
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