1: Introduction Flashcards
1
Q
What kinds of innovation types do we have?
A
- Product or service innovation: to generate/increase sales.
- Process innovation: to enable/improve production of goods or services.
- Business model innovation: new ways to generate revenues and define value propositions.
2
Q
What is the difference between an innovation and an invention?
A
An innovation is an invention that is commercialized. The invention is the process, and the innovation is when you commercialize it.
3
Q
Why do we say that innovation is “creative destruction”?
A
Because it often causes resistance. People fear new things and are afraid of losing their jobs.
4
Q
Where can we say that innovation comes from?
A
- R&D; essential driver.
- Individual users
