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Innovation and New Technologies

Conduct a literature review on the reasons why incumbents are often beaten by challengers in business, including examples and a discussion of various factors such as resistance to change. Refer to a wide range of literature sources.

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Added on  2021-04-17

Innovation and New Technologies

Conduct a literature review on the reasons why incumbents are often beaten by challengers in business, including examples and a discussion of various factors such as resistance to change. Refer to a wide range of literature sources.

   Added on 2021-04-17

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Innovation and New Technologies_1
1 | PageTable of ContentsIntroduction...........................................................................................................................................2Literature Review..................................................................................................................................3Conclusion.............................................................................................................................................7References.............................................................................................................................................8
Innovation and New Technologies_2
2 | PageIntroductionIncumbent is an individual who is answerable to all the activities at the workplace. They are basically the leaders in the market place and have huge market shares. It focuses on changing the environment by bringing better services. For example the producer of eBay that is an incumbent and Amazon is considered as challenger. It is an intermediate between the association of business and materials. If the supplier is currently in use than it is considered as incumbent as it is holding some place in the association. If some new supplier overtakes the duties of old supplier, then new supplier is termed as challenger and the old supplier is termed as incumbency (Antonelli, 2014). Apart from that there are many situations in which challenger beats incumbents. Challengers in the market are those who are providing same as mine.Incumbents are left overlooked but it is necessary to defend an incumbency by showcasing the performance. They set an aggressive target price and re-compute the price whenever new opportunity arises in the market. This report helps in knowing how altered version replaces the old methods (Vargo, Wieland & Akaka, 2015). Other than that Disruptive technology is used to change the way in which entire business operates, it helps a small company to establish a larger organisations. Incumbents are beaten by challengers as the challenger’s triesto focus the market by maintain a good position in a short period of time. Incumbents dig the large sags to come next in the market but it is difficult for the incumbents to stand out in the market (Green-Pedersen, Mortensen & Thesen, 2017). Incumbents have a lot of advantage as there name in the market, increased funds but it can be done by defining what an opponents isserving, what are the drawbacks and then defining an agenda to beat the challenger (Karthikeyan & Jonsson, 2016).
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