Schumpeter's waves of "creative destruction"

Discussion: what could be "overshooting customers need" in an hospitality context?

Assumption that disruptive threats will emerge among low-end, overserved customers so what is the improvement curve (sustaining innovation by incumbents)? Is it going up faster than the consumer's ability to absorb those improvements?

Sustaining innovation vs disruptive innovation

Overshooting=performance oversupply

Response:lower performance but low cost as well

Incumbents should ask themselves if they can win and how much it would cost (and if not or cost to high exit this specific market)

Cognitive or structural bareers see low cost airline

IBM exiting the pc industry
Hospitality examples

The case of Kodak and Fujifilm

Amazon: from book ps to everything
Distribution channel

Coopetition
Walt Disney & Pixar

Owning the customer relationship

Efforts currently made to compensate for the lack of customer knowledge

Data is key

The experiental business
Amazon
Apple

Extracting rents from participants in the ecosystem

Paypal AirBnB

Limitd to the data from the transaction they process

Analyzing customer reviews and satisfaction level is both reactive and not good enough

Evidence-based decision making

From selling services to meet customers needs

Is an organizational surgery required?

Becoming more of an ecosystem