Disruptive Innovation: How Tesla Motors, SpaceX and Solar City are disrupting industries

Innovation has been a forefront for progress and change. From the time of great industrial revolution to the internet revolution, innovation has become the epitome of every prospering economy. More and more developing nations stress on innovation for entrepreneurial development and self-sufficiency. According to a report published by the “Global Innovation Index”, developed economies such as Switzerland were ranked 1st in global innovation, followed by United Kingdom and Sweden. It ranked India as 76th spot below countries such as Peru, Georgia, Oman. A lot of factors decide on what is going to be invented and when. Economies which focuses on innovation, as the key growth factor, often are more successful, we can take the case of the Chinese intense manufacturing sector. But the question as to what new innovations can be done, when almost everything has been achieved? can be answered by the concept called as “Disruptive Innovation.” The concept, originally coined by Prof. Clayton Christensen of Harvard University in his book titled “The Innovator's Dilemma: When New Technologies Cause Great Firms to Fail”, talks about improvement in existing products and services/process which force's firms to either adopt or fail to the change that is happening in the current consumer market for their survival. It also talks about the how changes at micro level of the market can drastically change the scenarios of market leaders. The same applies to the manufacturing sector as well. In this article, we explore three unique American companies headed by one entrepreneur whose business empire has showcased immense threat for survival to the public and private Automobile, Space Technology and Energy industries.