-Innovation involves the whole process from opportunity identification, ideation or invention to development, prototyping, production marketing and sales, while entrepreneurship only needs to involve commercialization (Schumpeter).
-Disruptive innovation opens doors for new entrants who target unnoticed customers and meet their needs at a lower price, also can create a market where it does not exist.
-Market place is hostile to incumbents, who now needs to conduct radical/disruptive business innovation (Gary Hamel) :
- Radically reconceiving products and services, not just developing new products and services
- Redefining market space
- Redrawing industry boundaries
sustaining innovation for your services is fine but more is needed In today's highly competitive and rapidly evolving global economy, maintaining a leadership position requires disruptive innovation. value creation co-creation