Innovation and disruption in traditional industries
University of edinburgh MA Social Policy and Economics, United Kingdom.
Research Article
Magna Scientia Advanced Research and Reviews, 2024, 12(01), 252–264
Article DOI: 10.30574/msarr.2024.12.1.0119
Publication history:
Received on 10 July 2024; revised on 22 September 2024; accepted on 25 September 2024
Abstract:
The increasing significance of innovation and the disruptive nature of startups in established businesses serve as the foundation for this study. The goal of this research is to examine the dynamics of innovation and disruption in traditional industries and to offer practical advice to established companies confronting these difficulties. To completely study the processes of innovation and disruption in traditional industries and the adaptation tactics taken by established organizations, a mixed-methods research strategy was adopted. The findings of this study offer valuable perspectives about the intricate mechanisms of innovation, disruption, and adaptation within conventional sectors. The results of this study provide insights into the complex mechanisms of innovation, disruption, and adaptation within conventional sectors. A number of significant insights can be derived from the analysis. Innovation within conventional sectors is a multifaceted occurrence that involves breakthroughs in technology, alterations in business strategies, and adaptations inside organizations. Established businesses in conventional industries are challenged with the obligation to adapt to disruptive change. Adaptation techniques include ambidexterity, where firms combine the investigation of new technologies with the exploitation of existing competencies. Dynamic capabilities play a crucial role in organizations as they allow them to effectively perceive, capture, and modify their resources and competencies in order to successfully adjust to evolving market conditions.
Keywords:
Innovation; Innovation and Disruption; Dynamics of Innovation; Impact of Innovation; Startups
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Copyright © 2024 Author(s) retain the copyright of this article. This article is published under the terms of the Creative Commons Attribution Liscense 4.0