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The Innovator's Dilemma: When New Technologies Cause Great Firms to Fail |  |
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The Innovator's Dilemma: When New Technologies Cause Great Firms to Fail | |
A Wall Street Journal and Businessweek bestseller. Named by Fast Company as one of the most influential leadership books in its Leadership Hall of Fame.
“His book, one of the most significant business books of the past 50 years, became a mammoth bestseller, and its title entered the language.” — Fortune magazine
“Christensen’s The Innovator’s Dilemma is the foundational read for managing disruptive innovation.” — Steve Blank, Silicon Valley serial-entrepreneur and academician, as seen in strategy+business magazine
“This is an important read, even if you’re at the very early stages of growing a startup.” — Drew Houston, CEO, Dropbox
Praise for The Innovator’s Dilemma and Clayton M. Christensen:
Forbes
“[Clayton Christensen is] one of the most influential business theorists of the last fifty years.”
The Financial Times
“The Innovator’s Dilemma achieves a rare feat: It is at once a satisfying intellectual solution to a long-standing business puzzle and a practical guide for executives and investors.”
Wired
“. . . Required reading in Silicon Valley, where it has been championed by the likes of Steve Jobs, George Gilder, and Andy Grove.”
The Huffington Post
“A seminal book.”
Bloomberg Businessweek
“A holy book for entrepreneurs in Silicon Valley . . .”
Fortune
“The notion of ‘disruptive technology’ is one of the timeliest ideas of the Internet age. Coined by Harvard Business School professor Clayton Christensen, it’s at the heart of his influential book The Innovator’s Dilemma.”
网友对The Innovator's Dilemma: When New Technologies Cause Great Firms to Fail的评论
很有启发，好久没读英文原版！
蛮好的 包装也不错！满意！
The Innovator's Dilemma lays out a very clear path to assess possible responses to emerging technologies in view of present ones. The book paints a compelling picture of why emerging technologies are usually not compatible with current strategies and value networks, and thus make no sense to pursue. But then, the book also demonstrates the critical need for managers to pursue these very technologies lest they mature and move into the manager's market. This is the innovator's dilemma: profitability today or sustainability tomorrow. However, there is a third way that allows managers to lead their organizations through this dilemma without sacrificing either profit or sustainability. By understanding the nature of disruptive innovation as opposed to sustaining innovation, and acting accordingly, management can position the organization to capitalize on both, enhancing both today's profitability and tomorrow's sustainability.
For a would-be entrepreneur interested in innovation, this book is something of a dream. It presents readers with a number of realities within the world of technology, the most interesting and fundamental being that making an existing product better (even much, much better) in no way guarantees a new product's success. In fact, sometimes giving people something much worse in certain respects than the current market leader is the best path to take. The book reinforces this fundamental point, as well as many others, with a rich set of examples. It's a quick, stimulating read, as well as a real eye-opener. I'd highly recommend this book to anyone interested in becoming an innovator.
I've been involved in innovation most of my career, and now wish I'd read this book much earlier. The simple but powerful thesis of the book is backed up by data and case studies from disparate industries. Like many business books it is a bit repetitive at the end. And my Kindle edition suffered from poor editing in the first few sections although those problems disappeared later on. But the ideas and usefulness are five stars.
Using data from various industries, this book discusses dilemma between sustaining and disruptive innovation.
Most technological companies drift up-market, improving technology for increasingly high-margin customers. This is sustaining innovation. It can be hard, but if you continue to serve the same market, return on investment is predictable. Sustaining innovation creates vacuum at the low end, and entrants fill it with new technologies, not as capable but better in other ways - simpler, more reliable, suitable in different environments, and typically cheaper up-front. This is disruptive innovation. When a working low-end business model is found, products start to improve until they meet demands of mainstream customers. At this point, being cheaper, or simpler, or more reliable, new technologies win.
The entrants often fail, but the wins can be huge. For sustaining innovation, being the first with new technology is not very important - you can serve the same market with incremental improvements to the previous technological generations for a while. For disruptive innovation, the first companies often take it all. They fly below the radar for a while, polishing the processes, and as soon as product is ready for mainstream, they can win overnight. So with more risk of failure, and more to gain, disruptive innovation might be attractive, statistically.
Sure smart management will invest in disruptive innovation, then? In fact, engineers at big companies often do have prototypes of disruptive technologies done before anybody else, it just must be marketed. But then, CEO has to decide between sure increase of bottom line next year using sustaining innovation, or betting on a project that might fail, and even if it succeeds, bringing very small revenue initially. Even if top management decides to bet, it is middle managers and sales people who determine resource allocation on a daily basis, and they also prefer sure bonus this year to uncertain huge win 5 years from now, so disruptive projects usually don't get much attention. Everybody waits until disruptive technology matures enough to serve existing markets, while new companies at eating into those existing markets. There were big companies that successfully brought disruptive products to market, but it requires constant attention of CEO for months. In a sense, the capabilities that allow big companies to operate in their current established markets are liabilities when trying to find new markets.
The solution suggested in the book is creating independent organizations. It can be a complete new company, or it can be a different office, but that organization must be "independent from normal resource allocation process" of mother company, and be judged on how well it can find and grow new market for the disruptive technology. It also suggests that all plans must be plans for discovery of market ("experts' forecasts will be wrong") and therefore be based about inexpensive experiments into new markets and provide for quick change of course if necessary.
The biggest concern about this book is that despite having charts everywhere, it is still more about intuitions rather than any mathematical models. It does mention that company profits can increase as competitions grab low-end market, and it does mention companies that continue to hold nice high-end market after middle-end is occupied by new technology, so decisions are not obvious. There is also a case study of one possible innovation, electric cars, but it only say that their performance is not suitable for mainstream on all metrics (it was before Tesla made it to 60 in 4 seconds) and is increasing faster than market demands. By that criteria, every company should invest in pretty much any new technology. I would have hoped for a more detailed analysis here, but it could be too much to ask from a book that was first to even bring up the innovators dilemma.
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