Technology and innovation are the driving forces behind so much of modern business and working life. But there are a number of challenges facing organizations that rely on or want to use cutting-edge tech. One of the biggest challenges is finding a way to balance both revolutionary innovation and long-term growth with the need for effective information security.
The answer is to focus on solving current needs for customers, even if those needs may change in the future. This challenge is especially acute in the information technology field where technologies that make it easier to secure data and protect against cyber attacks are continually emerging. Developing policies and procedures that keep pace with these innovations is the best way to meet this challenge of sustaining technology.
Sustaining innovation focuses on creating better-performing products to sell for higher profit margins to your company’s most loyal customers. It can be as simple as an incremental year-by-year improvement or a leapfrog-beyond-the-competition product that outperforms the competition. But established competitors have powerful motivations to fight sustaining innovation battles and the resources to win them.
Disruptive innovation, on the other hand, aims to create "good enough" quality products that appeal to new or lower-end markets without taking business away from existing high-paying clients. It is the most difficult type of innovation to sustain because it can take years for disruptive products to gain market acceptance and outpace their existing competitors. But it is the only way to achieve long-term business success.
