Reply To: Topics and themes for LCIC 2018

[James Fava]

One idea –

What is meant by innovation – and How does LC information inform each type? I was working through this the other day, and found that innovation can be at different levels or scales – e.g., Incremental, Breakthrough, and/or Disruptive – (at least one person view of it) – see https://www.inventium.com.au/breakthrough-innovation-vs-disruptive-innovation/        The idea is to dissect these three types of innovation and explore how LC information is used/ informs,… each

More details on the three from url

Incremental Innovation – improvements to an existing product, service, or process.

Breakthrough Innovation – changes to an existing product, service, or process that has a significant impact on the business. For example, it could open up a new consumer category for the business, or change the way existing customers interact or perceive the organisation. This innovation results in a company leapfrogging ahead of its competitors – but the innovation originates from core organisational offerings.

Disruptive Innovation (as coined by the the Godfather of Disruptive Innovation, Clayton Christensen) – new products or services that enter at the bottom of the market and overtime move up and displace established market leaders.

There are three important qualities of disruptive innovation to note:

1. The new product or service enters at the bottom of an established market.
2. It begins as a substandard product that is not seen as a threat by established market leaders.
3. Adopters are “non-consumers”, who couldn’t access product or service previously because of cost or accessibility.
4. The idea is to dissect these three types of innovation and explore how LC information is used/ informs,… each
5. The innovation becomes truly disruptive when adoption becomes more widespread, it improves in quality, and finally reaches tipping point with established market leaders waking up one day to realise that their marketshare has slipped away and there is no way to get it back. Examples of disruptive innovation include: the digital camera, mini mills, personal computers, peer-to-peer business models such as AirBnB and Zoppa.