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Sustaining Innovations
Sustaining innovations are new products or technologies that improve upon an existing product or service, but do not significantly alter the way that an industry or market functions. These innovations often aim to increase the performance or functionality of an existing product, or to make it more convenient or efficient to use.
Sustaining innovations are typically introduced by established companies within an industry, and are aimed at maintaining or improving their market position. They may involve incremental improvements to an existing product, or the introduction of new features or capabilities that are compatible with an existing product line.
Examples of sustaining innovations include new versions of software products with improved performance or additional features, new models of automobiles with improved fuel efficiency or safety features, and new generations of consumer electronics with improved battery life or processing power.
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What are cost-reducing innovations?
Study Notes
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Wonderful examples of cross-industry innovations
18th February 2023
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Explaining Creative Destruction
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