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The Hybrid Innovation Approach to Manage Technological Disruptions
Eugene James, Manager, Switzerland, Premium Member
Companies need to carefully think about the timing and way to adopt technological disruptions. Adopting technological disruption too late can squander competitive advantages, but adopting it too early can be devastating as well. Rather than spell doom and gloom, it is important to embrace disruption by combining current with novel technology.
According to Furr and Snow (2015), the “hybrid approach” is an effective way to deal with technological disruption. In essence a hybrid strategy is intended to serve as “stepping stones to survive and prosper in the next generation.” Hybrids combine different stages of disruption: mature, recent and emerging. For each stage a particular form of hybrid strategy exists and is defined by the type of market and customer needs:
- MATURE STAGE: In the mature phase of disruption, companies identify means to adapt. A bottleneck strategy is relevant when the business ecosystem is still not fully developed and complimentary goods are not readily (...) Read more? Sign up for free
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