Types Of Innovation Flashcards
1
Q
Product innovation
A
Innovative product or service
2
Q
Process innovation
A
Innovation in the way organisations conduct business
3
Q
Radical innovation
A
New and different to prior solution
4
Q
Incremental innovation
A
Makes relatively minor improvements to existing practises
5
Q
Competence enhancing
A
Build on existing knowledge base e.g. different iPhone models
6
Q
Competence destroying
A
Technology does not build on firms existing competencies or renders them useless
7
Q
Architectural
A
Change to overall design of system
8
Q
Component innovation
A
Change to 1 or more components but doesn’t change overall configuration
9
Q
Differences between open and closed innovation model
A
Firms use others research as dont have corporate limit e.g. universities
10
Q
A
