Innovation Flashcards
1
Q
The definition of innovation ?
A
Innovation is creating a new value to the product.
2
Q
What are the 4 different types of innovation?
A
Incremental
Disruptive
Architectural
Radical
3
Q
What is incremental innovation ?
A
This type of innovation focuses on making small improvements to an existing product.
4
Q
What is disruptive innovation?
A
This type of innovation simplifies and makes more affordable products to undesirable or ignored markets.
5
Q
What is architectural innovation?
A
This type of innovation refers to changing aspects of an existing product/service, normally how they are configured together to improve outcomes.
6
Q
What is radical innovation?
A
This type of innovation is creating a new product that meets new customers or a new market.
