Nokia’s decline, illustrating existing theory on disruptive technologies

By Paul Walker 26/02/2014

Dr. Christian Sandström provides a definition of disruptive technology and explains how it introduces new features to an already existing product, elaborating on the struggles many well rooted, competitive companies have faced, either raising to the challenge or failing, as are the cases of Nokia and Kodak. He comments on the oversights of established businesses, such as Nokia, that failed to progress on technological changes, and consequently missed out on growth opportunities, as they stayed too close to their existing customers. He concludes by suggesting that the markets and value should be appreciated from an Austrian perspective, in order to be fully understood and taken advantage of.

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