Lead and Disrupt: How to Solve the Innovator's Dilemma

The more successful and profitable a firm becomes, the more sophisticated the feedback systems become;

incremental innovation in which products and services are made faster, cheaper, or better

disruptive innovations” as those that create new markets through the introduction of new products or services that appeal to a new set of customers

the firm’s ability to integrate, build, and reconfigure internal and external competencies to address rapidly changing environments.

These transformations and their successes have been possible only because of leaders who were able to foresee how the company could leverage its strengths as markets changed.

the leaders of these companies were rigid in one way or another—unable or unwilling to sense new opportunities and to reconfigure the firm’s assets in ways that permitted the company to continue to survive and prosper

success requires speed, flexibility, and a tolerance for mistakes

everything to do with leadership—and how leaders act in the face of change.

Fifty years ago, or even twenty, managers had the luxury of time. If they were slow to react to change, they could recover. This is no longer the case. In today’s world, firms that miss a transition or fail to respond to a disruptive innovation quickly find themselves out of business.

Exploration is about learning by making mistakes; as a result, you don’t want to control errors.