INNOVATION AND CREATIVITY
TYPES OF INNOVATION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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embodied the output of an organization
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the way an organization conduct its business
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change from existing product
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None of the above
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Detailed explanation-1: -What Is Product Innovation? Product innovation is the process of creating a new product-or improving an existing one-to meet customers’ needs in a novel way. There are three key types of innovation: Sustaining innovation, in which a business consistently provides the highest quality products to its best customers.
Detailed explanation-2: -Therefore, product innovation creates continuous profit, thereby improving the related performance measures of an organization.
Detailed explanation-3: -An innovation process is a set of steps between an idea’s conception and its implementation. It is a streamlined process that is managed in a way that reflects a company’s structure and innovation goals.
Detailed explanation-4: -Sustaining, or incremental innovation. Breakthrough innovation. Disruptive innovation. Basic research. 07-Nov-2022