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"The Innovator's Dilemma" is a book by Clayton Christensen, published in 1997, that explores why successful companies fail to adapt to disruptive innovations and new market entrants. The book presents a framework for understanding the dynamics of innovation and provides insight into how to manage disruptive technologies and stay ahead of the competition.

The central idea of the book is that companies that focus too much on their existing customers and markets are often unable to innovate and adapt to disruptive technologies. They become "trapped" in their existing business models and miss out on new opportunities.

Christensen describes two types of technologies: sustaining technologies and disruptive technologies. Sustaining technologies are improvements to existing products or services that meet the needs of existing customers. Disruptive technologies, on the other hand, create new markets and value networks and eventually disrupt existing markets.

Christensen argues that successful companies are often so focused on sustaining technologies that they fail to recognize the potential of disruptive technologies. They have invested heavily in their existing products and processes, and they are unwilling or unable to invest in new technologies that may cannibalize their existing products. This creates an "innovator's dilemma" – the tension between doing what has made a company successful in the past and taking risks to innovate for the future.

The book provides examples of companies that have successfully managed disruptive technologies, such as Intel, and those that have failed, such as Kodak. Christensen argues that companies need to create separate divisions or business units to focus on developing and commercializing disruptive technologies. These units should be given the freedom to experiment and develop new products without the constraints of the existing business model.

Overall, "The Innovator's Dilemma" provides a valuable framework for understanding how innovation works and how companies can stay ahead of the curve. It emphasizes the importance of being open to new ideas and technologies, even if they may disrupt existing business models.