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.