What is mix innovation?
The innovation mix is about managing the 3 different sources of innovation in a way to; a) improve the innovation success rate while, b) reducing the innovation risk.
What are 3 example of an innovation?
Lego has been changing the materials of its famous bricks to biodegradable oil-based plastics. The first electric vehicles introduced in the car’s market were also an innovation, and new batteries with longer ranges that keep coming out are also an example of innovation.
What are the 8 types of innovation?
8 Types of Innovation Processes
- Marketing & Branding: innovating the customer experience.
- Ideation: innovating the product idea & concept.
- Technology: innovating the product functionality.
- Co-creation: innovating the customer involvement.
- Social Innovation: innovating the corporate culture.
What are the six types of innovation?
Six Types of Innovation
- Product — what we produce and sell.
- Service — exceeding customer expectations.
- Process — continuous improvement of how we do things.
- Management — business strategies, systems and structures.
- Open — working beyond boundaries and collaborating globally.
What are the 4 p’s of innovation mix?
Innovation mix. You have all heard about marketing mix or, 4 P s of marketing (Product, Price, Place, Promotion). They were invented so you can narrow your investigation on to a specific area of your organization. There are also 4 P s of innovation. They are (Product, Process, Position and Paradigm).
What is involved in innovation management?
Innovation management is a multi-disciplinary field, and it covers every aspect of the company-organization it is applied to. How can you narrow your focus and look at the specific areas of your organization. You have all heard about marketing mix or, 4 P’s of marketing ( P roduct, P rice, P lace, P romotion).
What is ‘process innovation?
A lots of the issues on ‘product innovation’ we discussed earlier, are itself a processes, so we can talk about them here too. So, ‘process innovation’ is anything we can do to improve processes in our organization, so they are quicker, more efficient, or cheaper.
What is the problem with innovation management?
The problem is that innovation could be applied everywhere. Anything could be improved (made better). Innovation management is a multi-disciplinary field, and it covers every aspect of the company-organization it is applied to. How can you narrow your focus and look at the specific areas of your organization.