to the incumbent's customers it is too late for the incumbent to react to the new product. At this point it is too late for the incumbent to keep up with the new entrant's rate of improvement, which by then is on the near-vertical portion of its S-curve trajectory. Through this compelling multi-industry study, Christensen introduces his seminal theory of "disruptive innovation" that has changed the way managers and CEOs around the world think about innovation. Christensen then argues that the following are common principles that incumbents must address: Resource dependence: Current customers drive a company's use of resources Small markets struggle to impact an incumbent's large market Disruptive technologies have fluid futures, as in, it is impossible to know what they will disrupt once matured Incumbent organizations' value is more than simply their workers, it includes their processes and core capabilities which drive their efforts Technology supply may not equal market demand. The attributes that make disruptive technologies unattractive in established markets are often the ones that have the greatest value in emerging markets He also argues the following strategies assist incumbents in succeeding against the disruptive technology: They develop the disruptive technology with the "right" customers. Not necessarily their current customer set They place the disruptive technology into an autonomous organization that can be rewarded with small wins and small customer sets They fail early and often to find the correct disruptive technology They allow the disruption organization to utilize all of the company's resources when needed but are careful to make sure the processes and values were not those of the company Reception Shortly after the release of the book, it received the Global Business Book Award as the best business book of the year (1997). The Economist also named it as one of the six most important books about business ever written". Impact on business world The term disruptive technologies was first described in depth with this book by Christensen; but the term was later changed to disruptive innovation in a later book (The Innovator's Solution). A disruptive innovation is an innovation that creates a new market and value network that will eventually disrupt an already existing market and replace an existing product. Recent work Since the book was published, various articles have been written, both critiquing and supporting Clayton Christensen's work. The Innovator's Dilemma proved popular; not only was it reprinted, but a follow-up book