But all may not be lost for established companies. The Imperative of Dual TransformationFor a startup, a transformative innovation is all upside, an opportunity to take-on established companies with new products that offer significantly better capabilities and/or lower costs. To improve its competitive advantage, the company should leverage its unique, difficult-to-replicate assets and capabilities and create new transformative business models. The business model wrapped around the technology is the key to success or failure. Companies need to also look for growth opportunities outside their core business and continually reinvent themselves.

Source: Wall Street Journal January 31, 2020 18:11 UTC