For the past two months,Ian has been looking at the potential of a new compact solar capture technology he has developed.This technology would make it economically feasible for condominium owners to harness the sun on their balconies and use the generated electricity to offset the power purchased from their local electricity provider.If the business takes off,it would revolutionize the relationship between power authorities and their customers-where both sides would be power generators and clients.This process is known as ________.

Question

Quizplus · Accepted Answer

Creative destruction refers to the process where new innovations lead to the demise or transformation of existing technologies or markets. Ian's technology, by potentially changing the dynamics between power authorities and customers, embodies this concept by disrupting the traditional power supply model.

For the Past Two Months,Ian Has Been Looking at the Potential