Maxsigma, a software company, released a text processing application. This application was user-friendly and widely accepted by its customers. However, a few months later, users found that it was susceptible to virus, and they switched to newer and more efficient text processing applications. In the context of innovation streams, which of the following concepts does this scenario best illustrate?
A) Technological singularity
B) The compression approach to innovation
C) The experiential approach to innovation
D) Technological lockout

Question

Quizplus · Accepted Answer

This scenario best illustrates technological lockout. Despite the initial success of Maxsigma's text processing application, it was unable to keep up with the changing technological landscape and eventually lost its market share due to its susceptibility to viruses. Technological lockout occurs when a company's product or technology becomes obsolete and is replaced by newer innovations, leading to a loss of competitive advantage.

Maxsigma, a Software Company, Released a Text Processing Application