Reconstructionist View 

Reconstructionist View recognizes that market boundaries and industry structures are not set and can be cognitively reconstructed in a fundamentally new way. As industry structure and market boundaries exist only in managers’ minds, the reconstructionist view asserts that existing market structures should not limit one’s thinking. In this worldview, extra demand is out there. The problem is how to create it. Therefore, under the reconstructionist view, attention shifts from supply to demand, from a focus on competing to a focus on value innovation—that is, the creation of innovative value to unlock new demand. With this new focus in mind, it is possible to systematically look across established boundaries of competition and reconstruct existing elements in different markets to create all new market space where a higher level of demand is generated.