Forms of Innovation Flashcards
1
Q
What are the 3 forms?
A
product , process and service
2
Q
what is product innovation?
A
the development of a new product e.g a tangible product
- using new technology e.g dyson dual cyclone
- reconfirming technology e.g workbench
3
Q
What is service innovation?
A
-development of new service
4
Q
what are the two types of service innovation?
A
contact e.g hairdressers, education etc
intermediation services e.g transport and retailing etc
5
Q
What is the case study for service innovation?
A
POWER BY THE HOUR
- RR introduced new service which provides a fixed price maintenance based upon hours in the air
- average time between removals up from 700hrs to 900 hrs
6
Q
What is process innovation?
A
-developments to how products are made/delivered
7
Q
examples of process innovation?
A
Fords assembly line (manufacturing process)
Amazon (Delivery process)
8
Q
What are the impacts of process innovation?
A
- production time reduced
- fewer employees
- greater efficiency
