Identification and Categorization of Disruptive Innovations According to the Strategic Scope of the Firm

Abstract

The concept of innovation has for a long time been considered as the drive behind the ever-changing positions and functioning of the global community. Since the beginning of twenty-first century, creative individuals and entrepreneurs have without influence declined to accept the existing products and services as being the ultimate solution to challenges the society faces. This scholarly analysis builds on the theory of disruptive innovation to categorize and analyze the impact of disruptive innovations on key sectors of an economy in terms of their impact on the strategies and commercialization from a sectorial perspective. This analysis offers insightful information in terms of disruptive innovations which can be categorized into market-driven, product-driven, and competency-driven disruptive innovations.