The Innovator's Dilemma by Clayton Christensen

This is a must-read. The Innovator's Dilemma explains why large established companies so often fail to compete against new entrants, and what you can to do to avoid this trap.

From Amazon:
​The bestselling classic on disruptive innovation, by renowned author Clayton M. Christensen.

His work is cited by the world’s best-known thought leaders, from Steve Jobs to Malcolm Gladwell. In this classic bestseller—one of the most influential business books of all time—innovation expert Clayton Christensen shows how even the most outstanding companies can do everything right—yet still lose market leadership.

Christensen explains why most companies miss out on new waves of innovation. No matter the industry, he says, a successful company with established products will get pushed aside unless managers know how and when to abandon traditional business practices.

Offering both successes and failures from leading companies as a guide, The Innovator’s Dilemma gives you a set of rules for capitalizing on the phenomenon of disruptive innovation.

Sharp, cogent, and provocative—and consistently noted as one of the most valuable business ideas of all time--The Innovator’s Dilemma is the book no manager, leader, or entrepreneur should be without.