What does digital disruption mean?
GLOSSARY There is often talk of "digital disruption" in connection with digitalization, but what does this actually mean?
The term "digital disruption" encompasses many aspects.A disruptive technology is an innovation that potentially completely displaces an existing technology, product or service. Accordingly, a digital disruption is a type of disruption when an existing product or service is replaced by a digital innovation and pushed out of the market. The term was coined by Harvard economist Clayton Christensen in his major work "The Innovator's Dilemma", and various industries are struggling with the consequences of digital disruption. A classic example is the tourism industry and the boom of the Airbnb platform. This gives consumers the opportunity to rent apartments and houses from private individuals. This option is often cheaper than staying in a hotel. This internet platform represents major competition for many hoteliers and is putting pressure on their core business.Another example is the cab service Uber, which is putting the traditional cab industry under severe pressure.The HWZ dedicated an entire event to the term in November 2014. You can read the findings here here.
