Saturday, February 9, 2013

Role of risk in disruptive innovation

So, you have an idea that you believe will revolutionize your market, industry and perhaps, even the global cutler.  No one has even thought of such an idea before that you can find.  So you start researching the idea and find that as you learn more about how you might implement this disruptive technology that there are significant risks involved.  What do you do?  How do you resolve the risk, mitigate the risk, or even just ignore the risk?

The Boeing 787 Dreamliner recently found its competitive advantage at risk.  But is this not true of any disruptive innovation?  What the first product is like is not what the final product is like.  Is the Boeing decision a misstep, or just a risk that must be mitigated now that the risk has occurred?   In your work, do you identify risk and develop mitigation plans?  Boeing focused on fuel economy as the biggest risk to the Dreamliner and solve that problem.  Smaller risk to the disruptive Dreamliner will occur.  For example, as the article states"
Observe that the current systems and technologies in Boeing’s 737, 757, and 747 are not the same as the original technology and systems of the first of those models off the line.

Like Boeing, don't let risk disrupt your disruptive innovation.

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