Innovation is often described insufficiently. It is considered the solution to customers’ problems. Yet, most often it creates new answers to questions never posed before. Business innovation thus needs to be focused towards the near term of up to ninety days to make it more relevant. This includes the time needed for building, modifying and releasing the physical product. Innovation may be divided into three types which as Incremental, Radical and Disruptive. It gets incremental when rapid results are sought. Here, the focus remains on peripheral attributes such as its messaging, packaging or claims. Innovation is radical when it closes out the efficiency gaps with tools such as right-sizing, outsourcing and automation. Then there is disruptive innovation, creativity comes to the fore and alters an existing model. There’s also an urgent need for preventive innovation, which does not create new products but blunts out the disruptive forces of competitors. The trend for innovations must be in the ration of 70-20-10 in the order of evolution, preventive and creative.


Uploaded Date:06 February 2018

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