Disruptive innovations help create a new market and value network and eventually disrupt an existing market or Industry. It usually comes with the consequence of substituting an earlier solution or technology.
In this list, we discover 8 world-changing innovations by family businesses from around the globe.
1. Instant Noodles
Company: Nissin Foods
Family: Ando Family
Nissin’s instant noodles and the subsequent cup noodles revolutionized instant foods and were chosen by the Japanese as their “best invention of the twentieth century”.
Family: Philips Family
Co-developed by Philips and Sony, the Compact Disc had a greater capacity than computers at the time of its release and marked a shift in digital data storage systems.
3. Ready-to-assemble Furniture
Family: Kamprad Family
Industry: Consumer furniture
Ikea’s ready-to-assemble furniture drastically reduced the price of furnishing for consumers by eliminating shipping and assembly costs.
4. Glue Stick
Family: Henkel Family
Industry: Industrial Products
The Pritt Stick was the world’s first glue stick, employing the twisted-up mechanics found in lipstick and commercializing mess-free glue.
5. Zig Zag Fabric
Family: Missoni Family
Industry: Fashion and Textiles
Missoni invented the first multi-coloured zigzag patterned fabric through the “fiammata” technique, revolutionizing the knitwear and fabric industry.
6. Blue Jeans
Company: Levi Strauss & Co.
Family: Strauss Family
Blue jeans were developed utilizing denim enforced with rivets for maximum sturdiness, later becoming synonymous with the American West and redefining casual-wear.
7. Condensed Soup
Company: Campbell Soup Company
Family: Campbell Family
Campbell soup produced the first commercially viable method for condensing soup, allowing for smaller packaging and reducing the price of canned soup.
8. MP3 Player
Company: Saehan Group
Family: Lee Family
The MPMan was the world’s first mass-produced MP3 player, revolutionizing the music industry and marking the shift from physical to digital music consumption.
Tharawat Magazine, Issue 24, 2014