The chart below looks at the history of costs in our industry and what several of our clients have set as aspirational goals.

Will we hit the goals? The right question is “under what circumstances can we achieve these goals?” That brings into play the possibilities of channel, product, funding, process and technology innovation.

There’s another force at work in our industry: Disruption. The term “disruption” in its current usage was likely coined by Harvard professor Clayton Christensen in his 1997 book, The Innovators’ Dilemma. Christensen described his book as focusing on “disruptive technology.”

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