Disruptive Innovation Growth and Change

Question: Discuss abot theDisruptive Innovationfor Growth and Change. Answer: Introduction It is important to introduce new and innovative techniques in the market with the help of the latest technology that has the potential to bring improvement over the existing form of marketing. However with the introduction of the new strategies, the existing strategy gets totally disrupted. The management of a company has to face dilemma while introducing the new and innovative techniques in marketing. There is high risk of business failure while the introduction of the new and innovative techniques in the market. This the main reason for the dilemma that is caused before the introduction of new and innovative technology (Christensen2013). In this report, the characteristics of innovators dilemma is being discussed and the reasons for the failure of big firms due to innovators dilemma. The case of failure of Kodak is being discussed along with the case of Emaar properties, which is likely to fail in the next few years. Explanation of Innovators Dilemma It is common for a company to face dilemma after the introduction of new technology in the marketing. In the modern days of business, it is common for large scale business firms to introduce innovative techniques that are aimed to improve the rate of production for meeting up the demand of the customers. However, the innovative techniques can be sophisticated and complex in nature. Hence, there is a dilemma that is involved in the process of implementation of the innovative techniques (Gaynor 2012). This is one of the main reasons for the disruption of the process of innovation that can ultimately result in the process of failure or closure of the business. One of the main causes of the success of big firms is due to the fact that they are able to make full use of the available resources. They are also able to make add new features to the existing products with the help of the new advanced technology. However, failing to apply the latest technology due to lack of proper planning can bring huge loss to the company. It is the role of the technology experts to invest carefully in the future application. The disruptive technology is one of the main causes of dilemma that is caused due to poor performance of the innovative products. However, they are usually cheaper and easy to use due to the implication of latest innovative style of design. The larger scale companies also face challenge due to the dilemma in the process of investment and therefore also have to face the risk of fund shortage of funds (Cefis and Triguero 2016). Reason for Failure of Big Firms It is essential for large scale companies to make regular changes in the technological department that is needed for the bringing new changes in the marketing policies. One of the main reasons for the failure of big firms is due to the poor future planning and lack of skill labors of the industry. They also do not consider the importance of focusing on the needs of the customer. In the past there are many new cases, where the large scale companies had failed due to dilemma in the introduction of new and latest form of technology. The IBM, which is one of the biggest computer hardware companies failed as they were not willing to introduce the use of minicomputers, which later became popular in the IT global market. The Apple Computers also failed as they hesitated to introduce the features of portable computers in the market (Hendricks 2016). When a big scale company hesitates to introduce the policy of new technology, the rival small and medium scale company uses the opportunity and gains popularity in the market. This cause even further loss of the big companies as they lose the competitive advantage and the position of the market. The disruptive technology is one of the main reasons for the failure of large scale firms as it provides the opportunity for the smaller and new companies to introduce new marketing policies (Christensen 2013). Reason for the Failure of Kodak The Kodak is an American company, which is one of the largest firms for photography processing firms of the worlds. The company once had nearly 145,000 employees and occupied nearly 90% of the photography market. However, as the age of digital technology introduced in the world of photography, the company failed to maintain their reputation in the market. The disruptive technology in the form of digital photography started to become popular in the market. The digital form of technology in the photography had several advantages over films or the traditional forms of photography (Gershon 2013). At the beginning the digital technology had several drawbacks due to poor image quality and limited storage capacity. However, with the advancement of the technology, the digital photography became popular and people started to depend on the use of this photography. The popularity of the digital technology has wiped out the film photography. This is one of the most popular forms of disruptive te chnology that was responsible for the failure of the Kodak companies (Kotter 2012). One of the prime reasons for the success of Kodak in the past was due to their effective communication strategy with the customers. They used the latest technology of photography and film processing, which has helped them to be one of the top firms in the photographic market. However, after 1990s the company failed to garb the opportunity of digital photography, which is one the biggest strategic flaws of the company. The management of the Kodak Company refused to accept the change and hence, they continued with the film photography. In 1988, Kodak overtook Sterling Drugs, which was one of the major chemical companies with the intention of chemical processing of the images. This was one of the main reasons for the financial loss of the company. Failure of Emaar Properties Emaar properties are one of the biggest real estate companies of the UAE, which is operated by the joint venture of public and private enterprise. With the rise of the demand of housing projects in the UAE region, it is essential to use the latest forms of technology and engineering techniques in the housing projects. In the coming age the use of the technology is going to be one of the biggest driving forces of the real estate industry. The use of robotics technology is one the prime driving force of the future real estate industry, which is one the biggest disruptive technology (Christensen 2013). The robots can be used for moving heavy objects and carry out delicate tasks in the construction of buildings. This form of disruptive technology has the potential to reduce the labor cost of construction. However, in Emaar properties, there is lack of effective planning for the future that will help not allow the company to maintain their profit margin for the future. They are totally dependent on the traditional forms of construction and have done no major investment for implementing the future technology in their construction business. If the present trend continues, the company is likely to fail within the next 10 years. Conclusion The companies, which hesitates to implement the latest forms of technology due to the innovative dilemma fails to stay sustain in the business. Big scale companies like IBM, Apple and Kodak have failed to maintain their profit due to poor planning process. Emaar properties are one of the leading real estate firms of UAE that is likely to undergo failure within the next 10 years due to innovative dilemmas. Reference Cefis, E. and Triguero, ., 2016. 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