The probability of creating a successful, new growth business is 10 times greater if the innovators pursue a disruptive strategy rather than a sustaining one. A sustaining innovation is one which meets the demands of existing customers in established markets. In contrast, a disruptive innovation...

In this essay, we begin by offering a definition and two examples of market creating innovation that provide a foundation for the historically informed theory that follows. With this definition and the examples in mind, we next assess the two dominant theories of development— essentially, the...