Introduction
Primarily the purpose of every business is to have an opportunity to serve its customers. Furthermore, every company aims to make a profit, which is dependent on customer satisfaction. However, the modern business world is driven by technology and innovations. Therefore, the business has been forced to adapt to these new dynamics since the economy revolves around them. Technology is quickly influencing how their customers live, work, and interact. However, technology is continuously changing and evolving; therefore, companies are always keen to adapt to any new invention or improvement. Therefore, when approaching these changes, companies have to choose between disruptive technology and sustaining technologies, which vital to the growth of every business.
Disruptive and sustaining technologies
In 1997 in his book, the innovator dilemma Clayton Christensen coined the phrase disruptive technologies. He explains that this kind of technology is meant to create and make a difference in the business world. Therefore, this technology identifies new opportunities for smaller businesses through tech and innovation to compete and challenge established and more prominent companies. According to Hernandez, the opportunity is presented by the lack of established and more prominent companies that fail to meet the needs of their more straightforward customers who make up the most significant market (2020). Notably, Apple in the 2000s adopted this technology and introduced new technology in the form of an iPod that incorporated the ability to download music. In effect, this invention elevated Apple to one of the most significant companies in the twenty-first century.
On the other hand, sustainable technology is an innovation that is meant to improve existing products. Therefore, the business uses it to develop existing markets rather than creating new ones solemnly. In business, the organization that holds the best tech sustains its clientele. Hernandez gives an example of Huawei, a smartphone developing company that uses this tech.
How the Internet has caused a technological disruption.
The Internet is described in two words evolution and destruction. It began as packet switching networks called ARPAnet in the 1970s. After that, the researchers began to assemble a network of networks that evolved into the modern Internet. In effect, it is credited for technological transformation like machine learning, neural analytic, and big data. Therefore, continuous evolving innovation happening at an increasing rate is the cause of disruptive technology. For instance, internet companies like Netflix, Hulu, and Amazon disrupted the demand for DVDs.
Destructive technology and E-commerce
Also known as online business is the type of business that involves sharing information through the Internet for commercial purposes. Therefore, business is conducted between individuals or groups externally through internet connection. According to E-commerce began in 1994 by an agency of Ogilvy and Mather, known as International Business Machine Cooperation (IBM). They began marketing the concepts of online business through the Internet. In this case, their main aim was that businesses would adopt this new invention and create a new industrial revolution. However, this move proved to be a success in the two thousand. In effect, e-commerce has become a household name. The success of International Business Machine Cooperation (IBM) is credited to their relationship in developing computer software, hardware, and malware. In effect, these inventions are meant to provide data storage, anti-virus, encryption, and data transmission. However, online business is considered as a destructive business mainly because it revolutionized business by replacing traditional local retailers with a convenient option (Lyons, 2020)
How E-commerce has provided business opportunities.
In today’s modern technical world, the use of fast Internet has provided a new commercial arena. This powerful tool is used for e-commerce with numerous benefits to individuals and businesses alike. According to Cohen, these opportunities include:
- Creating a twenty-four-hour economy.
- Faster buying and selling as a customer has quick access to products.
- The global market for business products
- Straightforward methods to start and run a business.
- Provision if Low operational cost with better quality services.
A twenty-four-hour seven days a week where a business can sell to their clients at any giving time. These moves have helped ease time constraints set on business. Secondly, online platforms make selling easy as customers can access their products quickly. On the other hand, the Internet has made the world a global village; therefore, the business can reach more customers without past demographic limitations. Furthermore, the most notable benefit of E-commerce makes it easy for the new entrepreneur’s start and runs a business even without any physical building. Finally, online business has reduced the operational cost while providing better quality goods.
References
Cohen, R., 2020. The Essential Clayton Christensen Articles. Data and Transformation, [online] (46), p.14. Available at: <https://hbr.org/2020/01/the-essential-clayton-christensen-articles.
Hernandez, L., 2020. Technology Outlook 2020: A New Breed Of Disruption. Chief Executive, [online] (45). Available at: <https://chiefexecutive.net/technology-outlook-2020-a-new-breed-of-disruption
Lyons, K., 2020. Clayton Christensen, who coined the term ‘disruptive innovation,’ dies at 67. The Verge, [online] (47), p.14. Available at: <https://www.theverge.com/2020/1/24/21080578/clayton-christensen-disruptive-innovation-apple-netflix-steve-jobs
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