"The Innovator's Dilemma" by Clayton M. Christensen is a classic business book that explores the reasons why well-established companies fail to innovate and the impact that disruptive technologies can have on established businesses.
The book argues that established companies are often unable to respond effectively to disruptive innovations because they are focused on maximizing the returns of their existing products and markets. This focus can prevent them from recognizing the potential of new technologies and investing in them early on, which in turn can lead to their decline.
The author argues that disruptive innovations typically start as simple, low-end products that are not attractive to established companies but that gradually improve over time, eventually becoming better and more attractive than existing products. This creates a dilemma for established companies, which must choose between investing in disruptive technologies that may disrupt their existing business, or continuing to focus on their existing products and markets.
The book provides a framework for understanding disruptive innovations and the factors that contribute to their success. The author also provides practical advice for companies facing disruptive innovations, including how to build a culture of innovation and how to develop effective innovation strategies.
In addition to its insights on disruptive innovation, the book also offers a broader perspective on the role of innovation in the business world, and the challenges and opportunities that companies face as they try to stay ahead of the curve.
Overall, "The Innovator's Dilemma" is a thought-provoking and influential book that provides a comprehensive framework for understanding disruptive innovations and the challenges that they pose to established companies. The book is an essential resource for anyone interested in innovation, strategy, and business, and is widely recognized as one of the most important business books of the 20th century.