4.1 vocabulary

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Many start-ups aim to challenge the market dominance of long-running ______________________
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established companies
The introduction of a technology that radically changes an entire industry is known as ______________________
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disruptive innovation
Unlike unified corporations, traditional organisations can sometimes have ______________________ structures that lack cohesion
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fragmented
In a fast-changing market, a firm must be ______________________ to adapt quickly to new trends
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agile
If a brand is no longer appealing to its target audience, the company may need ______________________ it
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to reposition
To remain competitive, leaders must be willing ______________________ outdated and ineffective business models
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to abandon
The process of integrating technology into every aspect of a business is called ______________________
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digital transformation
High-risk start-ups often rely on financial support from ______________________ to fund their initial experimentation
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venture fund
Innovative marketing teams often look for ways ______________________ into their branding
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to inject (excitement)
A company might design a ______________________ that targets a very specific and narrow market segment
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dedicated product
Due to rapid technological shifts, the average ______________________ is becoming much shorter than in the past
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lifespan
A superior new product can quickly ______________________ older, less efficient alternatives
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to displace
The most important product that supports a company’s long-term success is considered its ______________________
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mainstay (of a company)
Redefining a sector often requires pursuing ______________________ that no one has tried before
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novel approach
Global political and economic trends constantly reshape the overall ______________________
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business landscape
An idea or person that completely transforms the way an industry functions is a true ______________________
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game changer
Even though customers ______________________ goods at an unprecedented rate, companies must remain vigilant to survive
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consume
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