INNOVATION AND CREATIVITY
INNOVATION IN ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A series of small improvements to an existing product that usually helps maintain or improve its competitive position over time best refers to
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Core innovation
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Modular innovation
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Incremental innovation
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Architectural Innovation
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Explanation:
Detailed explanation-1: -Incremental innovation is a series of small improvements or upgrades made to a company’s existing products, services, processes or methods. The changes implemented through incremental innovation are usually focused on improving an existing product’s development efficiency, productivity and competitive differentiation.
Detailed explanation-2: -Incremental innovation refers to a series of small-scale improvements made to an existing product or service to add or sustain value.
Detailed explanation-3: -What is Incremental Innovation? Incremental innovation is the concept of growing or improving a company by making a series of minor improvements to existing products, services, processes, and tools.
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