Final answer:
Disruptive innovation is the process where entrepreneurs bring new products to market, making older substitute products obsolete. The correct answer is C.
Step-by-step explanation:
Disruptive innovation is the process described by economist Joseph Schumpeter where entrepreneurs bring new products to market, making older substitute products obsolete. In the scenario provided, the example of creative destruction is desktop computers becoming obsolete due to the introduction of the new series of laptops. The purchase of new technology used to make the new series of laptops is not an example of creative destruction.
The process described by economist Joseph Schumpeter as new products making older ones obsolete is known as creative destruction. In the provided scenario, desktop computers becoming obsolete due to new laptops is the example of creative destruction. Disruptive technologies can start in new markets and grow to displace older technologies, encompassing a broad range of inventions and innovations.
Economist Joseph Schumpeter referred to the process where entrepreneurs frequently bring new products to market, making older substitute products obsolete, as creative destruction. In the scenario provided where Maria, the president of a company, employs new automated technology to produce a new series of laptop computers that is expected to drive desktop computers out of the market, the example of creative destruction would be b. Desktop computers becoming obsolete due to the introduction of this new series of laptops.
Throughout the evolution of the computer industry, we have observed many occurrences of disruptive technology. Disruptive technology often starts in a new market that is not currently served by existing technology, and as it improves, it begins to displace the older technology. The personal computer, which originally targeted hobbyists and home users, is one such example that ultimately replaced minicomputers as it evolved.
Technological advancement encompasses more than just the invention of new products; it includes new ways of organizing work, improving output quality, and innovative institutions, all contributing to more efficient production and newer products. Disruptive technologies like cloud-based storage platforms, digital photography, and ride-sharing services have already had significant impacts on their respective industries.