innovation: A change in customs; something new and contrary to established customs, manners, or rites. These categories may overlap because of the aforementioned large variety of problems people can innovate on. But, I don’t think that is a good idea. Of the companies that make it, most companies undergo one (or more) types of innovation: 1) Incremental Innovation. Key Terms. 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,, Microsoft, Cirque du Soleil, the Ford Model-T, and thousands more, to uncover the 10 innovative concepts that innovators successfully deploy. For this reason, intense care is needed in rolling out these ideas. The flip side of the coin is interacting with and listening to customers. People who pay you to do work are a critical part of the innovation feedback loop. Any changes implemented via … 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. There are three main innovation types (that we will describe below): Breakthrough, Sustaining, and Disruptive. Looking back on these examples, it’s tempting to focus our whole team on this type of innovation. Innovation Types #7-10: “Experience” These types of innovation are the most customer-facing, but this also makes them the most subject to interpretation. Other types of innovation include: incremental, architectural, generational, manufacturing, financial, and cumulative. Innovation is quite a broad field though and there are many different types of innovation. On this page, I’d like to give a little more clarity to these many different types. 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. This type of innovation is sometimes overlooked, as it doesn’t always generate a direct or measurable increase in demand or sales. Types of innovation - Choosing where to innovate. 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. With so many types of innovation and even more definitions, it can be confusing to discuss innovation in your organization. There are … Six Types of Innovation. Define the type of innovation. Your strategy depends on which type you want to create and develop. While other innovations tend to occur upstream, innovations in experience all get trialed in the hands of customers. A number of frameworks have been used to look at types of innovation. There are many different ways that innovation can be categorized. 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. Determine the criteria that will define if your innovation strategy is successful or not. – Roger L. Martin, Dean, Rotman School of Management . This type of Innovation is a series of small improvements or enhancements made to a company’s range of products, services or internal processes. By Robert Gerrish Updated on: October 2, 2008 / 3:43 AM / MoneyWatch Innovation is not just about brand new products. In business and economics, innovation is the catalyst to growth. 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.
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