Innovate on Purpose: 3 innovation types: evolution, preventative and creative

Innovate on Purpose: 3 innovation types: evolution, preventative and creative

Innovation has been positioned incorrectly as something to prepare for future business, needs, and demands. Instead, it should focus on short-term solutions to be relevant to executives and managers who are concerned with the now. Innovation can impact revenue and cost within 90 days but only for peripheral changes like messaging, packaging, and claims. Innovation can be categorized into three types: constant evolution, preventative, and creative. Constant evolution is necessary to improve existing products through cost and delivery efficiency while preventative innovation combats new entrants and sustains market share. Creative innovation radically changes the competitive landscape but requires substantial investment and commitment over several planning and budgeting cycles.

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