Explain the 1st and 2nd picture. 1st pic:purpose of DISRUPTIVE INNOVATIONhow it worksnetflix's disruptive innovation2nd pic:strengthslimitationsrole of management accountantPlease explain in essay form and in easy way like explaining to students. Thank you. are given a chance to see if it will succeed."new way to provide a product or service oftenleads to resistance in the organization.Strengths: Disruptive innovation forces a company Role of the management accountant:to reconsider how it creates value for its customers Management accountants can contribute todisruptive innovation thinking by helping to comeup with ideas, encouraging ideation sessions, andquestioning everything. They can also developLimitations: Disruptive innovation requires thinking ways to develop and assess new ideas andperformance metrics to assess the success of theand identify how things can be changed in waysthat will create new value for customers andgrowth opportunities for the company.differently, which can present both opportunitiesand potential risks. Uncertainty about a completely disruptive innovation process. • DISRUPTIVE INNOVATIONPURPOSE: The term "disruptive innovation" was coined by Harvard professor Clayton M. Christensenbased on his research on the disk drive industry and later popularized by his 1997 book The Innovator'sDilemma." Disruptive innovation focuses on making something different that creates value forcustomers and for the company. It focuses on making complex products simpler or making expensiveproducts more affordable. Some examples are Uber and Lyft with the taxi industry and Airbnb withthe hotel industry. Not only will successful disruptive innovators steal market share from the alreadyestablished players in their respective industry, the innovation will often create new demand and attractmore consumers than in the original industry. On the other hand, the innovator faces a dilemma: Willinvesting in the disruptive innovation now hurt its current business in the longer term?HOW IT WORKS:Disruptive innovation is a process by whicha product or service takes root initially insimple applications at the bottom of a marketand then relentlessly moves up, eventuallydisplacing established competitors." It can beany disruptive strategy, process, product, orservice. For example, is there a market where acurrent product or service seems too expensiveor complicated to use, or is there a growingneed that is not being met? After identifying theproblem, it requires brainstorming and out-of-NETFLIX'S DISRUPTIVEINNOVATIONNetflix is a recent example of a disruptive innovator.The movie rental industry previously dominated byBlockbuster has largely been replaced by Netflix's moviestreaming platform, and the company has successfullychanged the home movie rental landscape forever. Thisinnovation not only drove Blockbuster out of business,it has also attracted many more customers thanBlockbuster could ever have had due to the simplicity,practicality, and superior business model achievedthrough Netflix's platform."the-box thinking. In a large company, it may behelpful to allow employees with an idea to forma microenterprise within the company where theyare given a chance to see if it will succeed."new way to provide a product or service often

Question

Explain the 1st and 2nd picture. 1st pic:purpose of DISRUPTIVE INNOVATIONhow it worksnetflix's disruptive innovation2nd pic:strengthslimitationsrole of management accountantPlease explain in essay form and in easy way like explaining to students. Thank you. are given a chance to see if it will succeed.&#34;new way to provide a product or service oftenleads to resistance in the organization.Strengths: Disruptive innovation forces a company Role of the management accountant:to reconsider how it creates value for its customers Management accountants can contribute todisruptive innovation thinking by helping to comeup with ideas, encouraging ideation sessions, andquestioning everything. They can also developLimitations: Disruptive innovation requires thinking ways to develop and assess new ideas andperformance metrics to assess the success of theand identify how things can be changed in waysthat will create new value for customers andgrowth opportunities for the company.differently, which can present both opportunitiesand potential risks. Uncertainty about a completely disruptive innovation process. • DISRUPTIVE INNOVATIONPURPOSE: The term &#34;disruptive innovation&#34; was coined by Harvard professor Clayton M. Christensenbased on his research on the disk drive industry and later popularized by his 1997 book The Innovator'sDilemma.&#34; Disruptive innovation focuses on making something different that creates value forcustomers and for the company. It focuses on making complex products simpler or making expensiveproducts more affordable. Some examples are Uber and Lyft with the taxi industry and Airbnb withthe hotel industry. Not only will successful disruptive innovators steal market share from the alreadyestablished players in their respective industry, the innovation will often create new demand and attractmore consumers than in the original industry. On the other hand, the innovator faces a dilemma: Willinvesting in the disruptive innovation now hurt its current business in the longer term?HOW IT WORKS:Disruptive innovation is a process by whicha product or service takes root initially insimple applications at the bottom of a marketand then relentlessly moves up, eventuallydisplacing established competitors.&#34; It can beany disruptive strategy, process, product, orservice. For example, is there a market where acurrent product or service seems too expensiveor complicated to use, or is there a growingneed that is not being met? After identifying theproblem, it requires brainstorming and out-of-NETFLIX'S DISRUPTIVEINNOVATIONNetflix is a recent example of a disruptive innovator.The movie rental industry previously dominated byBlockbuster has largely been replaced by Netflix's moviestreaming platform, and the company has successfullychanged the home movie rental landscape forever. Thisinnovation not only drove Blockbuster out of business,it has also attracted many more customers thanBlockbuster could ever have had due to the simplicity,practicality, and superior business model achievedthrough Netflix's platform.&#34;the-box thinking. In a large company, it may behelpful to allow employees with an idea to forma microenterprise within the company where theyare given a chance to see if it will succeed.&#34;new way to provide a product or service often

Accepted Answer

Innovation and change have become the key components for the success and failure of any business.…

Explain the 1st and 2nd picture. 1st pic: purpose of DISRUPTIVE INNOVATION how it works netflix's disruptive innovation 2nd pic: strengths limitations role of management accountant