Digital disruption is said to occur when any of the Az Formula Review existing industry comes across a major challenger which offers bigger value to the customer base. The challenger company's offerings are much superior to what the existing firms are offering. As a result, the existing firms are not able to compete with the new player in the market.
One of the best examples of digital disruption is Uber. The existing taxi industry was highly affected when Uber hit the market. Uber came to the market with taxi offerings which offer considerably greater value than an average taxi. As a result the company captured the market share very fast resulting into a disruption in the existing taxi industry. The model that Uber adopted is fundamentally unique and thus it became very tough for any other taxi company to replicate this model so easily.
The product development teams and technology teams in the legacy businesses are forced to implement a whole host of changes in terms of social interactions, value creation and business mindset due to the challenges brought in by the digital natives like Netflix and Amazon.