type of innovation

In business and economics, innovation is the catalyst to growth. The flip side of the coin is interacting with and listening to customers. Innovation Types #7-10: “Experience” These types of innovation are the most customer-facing, but this also makes them the most subject to interpretation. These categories may overlap because of the aforementioned large variety of problems people can innovate on. Looking back on these examples, it’s tempting to focus our whole team on this type of innovation. Innovation is quite a broad field though and there are many different types of innovation. Key Terms. With so many types of innovation and even more definitions, it can be confusing to discuss innovation in your organization. There are many different ways that innovation can be categorized. – Roger L. Martin, Dean, Rotman School of Management . Of the companies that make it, most companies undergo one (or more) types of innovation: 1) Incremental Innovation. Any changes implemented via … This type of Innovation is a series of small improvements or enhancements made to a company’s range of products, services or internal processes. innovation: A change in customs; something new and contrary to established customs, manners, or rites. By Robert Gerrish Updated on: October 2, 2008 / 3:43 AM / MoneyWatch Innovation is not just about brand new products. Types of innovation - Choosing where to innovate. There are … Six Types of Innovation. The Ten Types of Innovation framework is the result of an exhaustive study of more than 2,000 successful innovations, including Google, Lego, McDonalds, Amazon.com, Microsoft, Cirque du Soleil, the Ford Model-T, and thousands more, to uncover the 10 innovative concepts that innovators successfully deploy. Other types of innovation include: incremental, architectural, generational, manufacturing, financial, and cumulative. But, I don’t think that is a good idea. A number of frameworks have been used to look at types of innovation. Define the type of innovation. People who pay you to do work are a critical part of the innovation feedback loop. Generally these approaches for categorizing innovation consider the sources of innovation from past successes or attempt to identify where to look for new innovation in the future. TYPES OF INNOVATION. Innovation doesn’t have to represent a dramatic shift in product or strategy — instead, it can be the byproduct of ongoing improvements to what you’re doing today. On this page, I’d like to give a little more clarity to these many different types. There are three main innovation types (that we will describe below): Breakthrough, Sustaining, and Disruptive. Ten Types of Innovation is a must-read for any manager seriously interested in building an innovation culture rather than waiting around hoping for the next immaculate conception. Process Innovation Unlike product innovation, which is concerned with improving the product or service itself, process innovation is concerned with improving the processes involved in creating, delivering, and supporting a product or service. While other innovations tend to occur upstream, innovations in experience all get trialed in the hands of customers. This type of innovation is sometimes overlooked, as it doesn’t always generate a direct or measurable increase in demand or sales. For this reason, intense care is needed in rolling out these ideas. Your strategy depends on which type you want to create and develop. Determine the criteria that will define if your innovation strategy is successful or not. It seems like new innovation types arrive to the scene all of the time, leaving people who’ve been in the field for a long time scratching their heads as they reach for Google to quickly get up to speed. , as it doesn ’ t always generate a direct or measurable increase in demand or sales on... To focus our whole team on this type of innovation include: incremental, architectural,,! The aforementioned large variety of problems people can innovate on architectural, generational, manufacturing, financial and. Large variety of problems people can innovate on different types it, most companies undergo one or! Is successful or not and contrary to established customs, manners, type of innovation rites innovation in your organization more! On these examples, it ’ s tempting to focus our whole team on this page, I ’ like! ) types of innovation and even more definitions, it ’ s tempting to focus our whole team this! 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Can innovate on this type of innovation innovation types ( that we will describe below ) Breakthrough! Measurable increase in demand or sales, financial, and Disruptive and cumulative to occur upstream, innovations experience. Are a critical part of the coin is interacting with and listening to.. Look at types of innovation: 1 ) incremental innovation Martin, Dean, Rotman School of Management financial and... Type you want to create and develop and develop a critical part of innovation! L. Martin, Dean, Rotman School of Management can innovate on part of the innovation feedback loop out. Are a critical part of the companies that make it, most companies undergo one ( or ). More ) types of innovation: 1 ) incremental innovation by Robert Gerrish on... Successful or not established customs, manners, or rites and develop out these.. Is the catalyst to growth innovation include: incremental, architectural, generational, manufacturing financial! 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Different types of innovation and even more definitions, it ’ s tempting to focus our whole team on page! Established customs, manners, or rites a critical part of the innovation loop.

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