What Is The Service Innovation Process?

Service Innovation involves the process of enhancing or creating new services to better serve customers. This can lead to a long-term competitive advantage for businesses. Service design and new service development are crucial aspects of this process. By adopting a service-based strategy, businesses can improve service offerings, cost framework, delivery method, and technology. Service innovation can occur in non-service sectors as well, such as manufacturing companies diversifying their supply portfolio with value-added services. The focus should be on finding opportunities for service innovation rather than just on the services themselves. MIT ID Innovation offers courses on service innovation to help students learn about and contribute to the process.