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Cultivating Invisible Impact with Deep Technology and Creative Destruction

Authors :
Sriram Krishnan
Joshua E. Siegel
Source :
Journal of Innovation Management; Vol. 8 No. 3 (2020); 6-19, Journal of Innovation Management, Vol 8, Iss 3, Pp 6-19 (2020)
Publication Year :
2020
Publisher :
University of Porto, 2020.

Abstract

The term "Deep Tech" is prevalent in industry but ill-defined. In this extended letter, we define Deep Tech (technology that is difficult to develop today, with the potential to become a pervasive and easy-to-implement basic need in the future) and consider its role in evolving businesses. We suggest how organizations can position themselves to take advantage of a coming wave of innovation, with emphasis placed on Creative Destruction's role (cannibalizing product lines) in creating sustaining enterprises. Understanding the diffusion of technical innovation from hard-to-implement exciter to commodity basic need will encourage leaders to rethink their current offerings to play in a future-thinking space setting these companies apart from the competition. We provide examples drawn from successful organizations.

Details

ISSN :
21830606
Volume :
8
Database :
OpenAIRE
Journal :
Journal of Innovation Management
Accession number :
edsair.doi.dedup.....5220e0b2dbfee413ea81d34dfab61403
Full Text :
https://doi.org/10.24840/2183-0606_008.003_0002