Disruptive Technology Flashcards
What is value proposition?
the thing that makes people choose a specific item over alternatives
What is the difference between competitive factors and performance objectives?
competitive factors are what the consumer values, performance objectives are what the company does to satisfy the competitive factors
What is a business process?
a specific sequencing of activities across place and time, with a beginning and end, with clearly defined inputs and outputs
What is a transformation process?
a business process where the input (transformed resources) is transformed (by transforming resources) before the output
Why are business processes important?
they improve performance
What are the two types of process change?
re-engineering
improvement
What is re-engineering process change?
the fundamental rethinking and radical redesign of core processes to achieve dramatic improvements
What is improving process change?
a structured approach to analyse and continually improve fundamental activities
When are processes changed?
when there’s a gap between current performance and desired performance
What are the two types of evolutionary technology?
sustaining technology
disruptive technology
What is sustaining technology?
the improvement of existing technology to offer better performance
How does sustaining technology grow?
incrementally, without creating growth
What is disruptive technology?
revolutionary new technology that introduces new approaches to existing problems
What are the four characteristics of disruptive technology?
being simpler and more customisable
driving growth
being more affordable
being more accessible
