Types of Innovation

Types of Innovation

Innovation is essential to staying competitive, but it can be challenging to understand how it impacts a business. This article discusses the four types of innovation: incremental, architectural, radical, and disruptive innovation. Incremental innovation is the most common type, making incremental improvements to existing products. Architectural innovation expands existing products to better serve large clients. Radical innovation pushes the boundaries of the existing concept, while disruptive innovation fundamentally advances an organization's positioning and technology. There are advantages to implementing any or all of these types of innovation, from increased creativity to improved productivity, higher competitiveness, and greater profitability. To effectively implement innovation structures, everyone needs to be on the same page, and collaboration and communication are key.

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More Innovation Resources:

7 tips to make your next away day successful

7 tips to make your next away day successful

Learn how to plan an engaging and productive team experience for your next strategy planning day with these 7 tips from a workshop and strategic planning facilitator.

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The Power of Networks and Innovation Ecosystems with Mikel Mangold

Mikel Mangold, co-leader of the EMEA Innovation Ecosystem Strategy at Lab of NGK SPARK PLUG, shares insights on the importance of networks and innovation ecosystems for corporate innovators in a recently published podcast.

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The difference between innovation, invention and entrepreneurs

Innovation, invention, and entrepreneurship are often used interchangeably, but they have distinct differences that need to be understood. Innovations can be created by anyone, anywhere, and can take many forms, including new products, business models, and customer experiences. Larger companies need the most help with innovation, while entrepreneurs are focused on execution.

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