9. Disruptive innovation is a situation whereby a new innovation arrives by the current market leader almost does not recognize it because they are confused as to which they are actually in. individuals in the legacy business are only concerned with improving the current product rather than disruptive innovation. Hence, when something new comes to the market, it is dismissed as not being good enough to compete. A good example is when the first ever automobile was manufactured in an era of horse-drawn carriage. It was dismissed as too noisy or unreliable. However, it was able to improve the transport industry as it was faster and eventually could carry more passengers.
10. Hypercompetition theory suggests that the speed and aggressiveness of the moves and countermoves witnessed in a very turbulent and competitive market present a situation in which advantages are quickly created and eroded. To keep up with it, firms have to be agile and quickly adjust their organizational resources so as to obtain competitive advantage. The changes made by the Lego toy making company indicate hypercompetition. Given the introduction of high-tech forms of entertainment like the PlayStation, the company found itself close to extinction in the toy world. The new CEO reduced costs, formed partnerships with top retailers, and added the links missing in the supply chain. Sales turned out to be strong within a period of five years.
12. National culture appears to influence the amount of training given to employees in an organization. Companies in countries with low power distance invest more in employee training than those in nations with high power distance. A possible explanation for this is that in high power distance societies, the individuals in power are reluctant to see a leveling of power throughout the firm. In countries with a strong vision of the future, firms are more likely to invest in worker training. This is because training helps employees perform better in the future (Gausepohl, 2016).
14. The startup culture is the energetic and innovative quality showed by many startup companies and those who found them, and which are characterized by passion, personality, agility, and authenticity. By capitalizing on this culture, an organization of any size can benefit from selecting its leaders meticulously, keeping an open mind on new ideas, and adopting an entrepreneurial attitude its management team.
15. In this era of fake news, personalized experiences, curated content and deep-rooted ideological experiences, people need to take responsibility of bursting online filter bubbles. While they may not appear to be a dangerous prospect, they can result in to several issues. For one, when an individual only observes things he or she agrees with, it can result in a snowballing confirmation bias that gradually accumulates over time. also, given the various different sources of information that people have access to, filter bubbles can trigger a genuine discontent an some individuals fail to understand how others think differently from themselves.
16. A notable change that Playboy magazine has made involves adopting a PG-13 rating. Also, it will not print completely nude pictures of females anymore. The decision is all as a result of innovation and disruption considering that times, technology and tastes have altered everything. In todays world that is always rapidly evolving, the biggest challenge that businesses face is that they will become irrelevant unless they innovate (Robbins, 2015).
Gausepohl, S. (2016, May 26). Embracing 'Startup Culture' at Any Business Size. Retrieved from http://www.businessnewsdaily.com/8379-embrace-startup-culture.html
Robbins, M. (2015, October 17). Why is Playboy giving up nudity? Retrieved from http://edition.cnn.com/2015/10/13/opinions/robbins-playboy-no-more-nudity/index.html
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