INNOVATION AND CREATIVITY
TYPES OF INNOVATION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A Paradigm innovation is a type of innovation that occurs when a business either creates a product or improves a product
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True
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False
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Either A or B
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None of the above
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Explanation:
Detailed explanation-1: -Paradigm Innovation is the shifting of an underlying mental model via a change, the common example being Henry Ford and the motorcar. A recent and more pertinent to this industry example is the iPhone.
Detailed explanation-2: -Service innovation refers to a new or significantly improved service concept, product or process in a new or existing market.
Detailed explanation-3: -Process innovation is about implementing a new or improved production or delivery approach, including changes in operational methods, the techniques used and the equipment or software.
Detailed explanation-4: -Sustaining, or incremental innovation. Breakthrough innovation. Disruptive innovation. Basic research. 07-Nov-2022
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