In “Discovering New and Emerging Markets” Clayton Christensen examined several companies with innovative technologies that did not initially have a successful entrance into the consumer market. Christensen attributes the failures of these new technologies to the management’s employment of traditional business strategies of having a rigid strategy based on experts’ predictions rather than planning and allocating resources, leadership support, and learning vice implementing, disruptive innovators should apply to their strategy plans. Firms who initially invest all of their resources in one specific strategy, such as Hewlett-Packard’s Kittyhawk, may deplete any additional resources to help them recover if their original strategy does not pan out as predicted. Company executives are very reluctant to provide support for a new technology because of their fear of failure. Without taking risks, such as Honda introducing the 50cc Supercub into the North American market as a motorcycle, companies might not be able to fully reach their maximum potential in the emerging market but instead struggle for a market share in a saturated established market.
Disruptive innovations can impact an existing industry such as in the case electric vehicles. Engineers are pioneering new vehicles that use battery power to lower pollution levels as a result of carbon emissions. NASA has a goal to launch a carbon-free, fully electric plane in 20 years
(Stone, 2016). Although NASA may
have a couple of hiccups along the way to meeting their goals, their management
must not see this as a failure of the firm, but only as single failed ideas in
which the organization can learn from. Emerging technologies inherently
involves failure, but the project owners and investors must be able to provide
support and remain confident in the technology in order for NASA’s project to
continue and be successful. NASA management must be able to quickly adapt and
alter their strategy using reserved resources to rebound from their mistake and
steer back onto course. Also, engineers may have limited material and current
aviation industry presumptions to reference while testing the electric plane.
NASA engineers and managers must be able to learn what the potentially new
market would entail, such as reduced carbon emissions and to carry passengers,
to help prioritize their goals.
Stone, M. (2016, June 17). The New NASA X-Plane Will Be Fully Electric. Retrieved June 17, 2016, from www.gizmodo.com: http://gizmodo.com/the-new-nasa-x-plane-will-be-fully-electric-1782155166