5 key takeaways from 'The Innovator's Dilemma' by Clayton Christensen - Business Insider

Clayton Christensen, author of "The Innovator's Dilemma," speaks at the Ford Community and Performing Arts Center in 2014.simply click here to claim your deal and get access to all exclusive Business Insider PRIME content.In it, Harvard Business School Professor Clayton Christensen describes how established companies are displaced by competition when they fail to self-disrupt.

The book, which came out in 1997 midway through the dot-com bubble, is a seminal text that turned its author into one of the most influential business theorists of our time. Christensen, who has been a professor at thefor more than two decades, enlisted real-world examples to make the case that established companies are in a bind: The strategies that make them successful can hamper innovation, but failure to innovate can put them on a path toward demise.

"I tell my classes: These are the last people you should delight because they're already your customer — you should think about the people who aren't buying from you and [be] asking, 'Why not?'" Bennett explained. "For me, that's the lesson of ['The Innovator's Dilemma']: You have to be thinking about the people you're not serving and whether or not you should be.

Today, more so than in 1997, Fortune 500 companies recognize the need to innovate and expand scope. Many adopt strategies suggested in "The Innovator's Dilemma" to broaden their strategy and offerings. Still, said FitzGerald, "At the end of the day, if your business model is making cars, and you're really good at making cars and making shareholders happy, it's hard to take a risk and do something else.

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