What are the different types of innovation?
With so many types of innovation and even more definitions, it can be confusing to discuss innovation in your organization. It seems like new innovation types arrive at the scene all of the time, leaving people reaching for Google to get up to speed. Whether you’re new to innovation or have years under your belt, this simple guide that explains the different types might help.
1. Open Innovation
Open innovation is the concept that, in a world of mass-distributed knowledge, firms can and should partner with others to advance their goals. It is an innovation by sharing both the risks and rewards of new research. The paradigm is that companies cannot afford to rely strictly on their own internal methods of innovation, but can buy or license processes or inventions from other companies. This helps to further their goals while also providing the opportunity to license or use joint ventures to share their under-utilized technology or processes.
2. Closed Innovation
Before being “open” as in open innovation, research is conducted internally within a company to privately create and manage inventions and new advancements before sharing them with the world. Successfully closed innovation requires protection, control, and ownership of the intellectual property while still under development, through the use of special product development teams within a company.
3. Social Innovation
Social innovation refers to both the new strategies, concepts, and ideas innovated to meet the social needs of society (including, but not limited to, working conditions, education, health, and community development) as well as the social processes of innovation, including open innovation techniques. It can also refer to innovations that have a social purpose, such as distance learning and online volunteering.
4. Process Innovation
Process innovation is the development and application of technology, production method, or method of delivery that are newly introduced or improved to a notable degree. This includes changes in technique, equipment, or software that help an organization remain competitive in the marketplace.
5. Product Innovation
Product innovation refers to the creation of a new or significantly improved good or service. It includes both the development of new products and changes in the design of established products. It can also refer to the use of new materials or components in the manufacture of current products, or the improvement of an existing product’s overall performance using new technology or materials.
6. Radical Innovation
Radical innovation refers to research and development aimed at creating new products, technology, or techniques that leap ahead or completely change the marketplace. The goal is to completely change how an industry or market functions, putting the innovator at the center.
7. Incremental Innovation
Incremental innovation is research and development to design and implement a series of smaller changes over time, by improving performance, upgrading materials, or lowering manufacturing costs. This helps a company stay competitive or increase its position in the market. It’s the most common form of innovation.
8. Business Innovation
Business innovation refers to the development and refinement of an organization’s process for generating new ideas, workflow procedures, methodologies, services, and products. The goal is to create practices that accomplish core business initiatives.
9. Technical Innovation
Technical innovation uses technology in new ways to enhance business workflows and methodologies as well as improve efficiency in an organization. Some examples include automating business processes, developing new technologies for the marketplace, or implementing new technology to increase worker efficiency and decrease costs.
10. Corporate Innovation
Corporate innovation, sometimes known as organizational innovation, refers to how the employees of a company, the public or another defined group, organize research and development together. Innovation most often occurs from the collaboration and combined efforts of a group, not an individual working alone.
11. Marketing Innovation
Marketing innovation refers to the research, development, and implementation of new practices and technology that increase the effectiveness and efficiency of a company’s marketing strategy. This type of potential breakthrough innovation can provide a competitive advantage in the marketplace by increasing brand awareness and market share.
12. Value Innovation
Value innovation refers to the process by which a company develops and introduces new technologies or product improvements that are designed to lower costs as well as differentiate the product in the marketplace. Improvements made through value innovation to create both an improved product or service and, at the same time, result in cost savings through the elimination of unnecessary steps in the production cycle.
Successful and sustainable innovation requires thinking on a grand scale and imagining a full range of possibilities. It involves envisioning a future that doesn’t exist yet. Regardless of the type of innovation you’re involved in, you’ll need a tool to help you get organized and rapidly implement ideas.
Want to learn more about unlocking innovation in your organization? Sign up for a free, 30-minute consultation. Schedule Now!
What are the different types of innovation?
With so many types of innovation and even more definitions, it can be confusing to discuss innovation in your organization. It seems like new innovation types arrive at the scene all of the time, leaving people reaching for Google to get up to speed. Whether you’re new to innovation or have years under your belt, this simple guide that explains the different types might help.
1. Open Innovation
Open innovation is the concept that, in a world of mass-distributed knowledge, firms can and should partner with others to advance their goals. It is an innovation by sharing both the risks and rewards of new research. The paradigm is that companies cannot afford to rely strictly on their own internal methods of innovation, but can buy or license processes or inventions from other companies. This helps to further their goals while also providing the opportunity to license or use joint ventures to share their under-utilized technology or processes.
2. Closed Innovation
Before being “open” as in open innovation, research is conducted internally within a company to privately create and manage inventions and new advancements before sharing them with the world. Successfully closed innovation requires protection, control, and ownership of the intellectual property while still under development, through the use of special product development teams within a company.
3. Social Innovation
Social innovation refers to both the new strategies, concepts, and ideas innovated to meet the social needs of society (including, but not limited to, working conditions, education, health, and community development) as well as the social processes of innovation, including open innovation techniques. It can also refer to innovations that have a social purpose, such as distance learning and online volunteering.
4. Process Innovation
Process innovation is the development and application of technology, production method, or method of delivery that are newly introduced or improved to a notable degree. This includes changes in technique, equipment, or software that help an organization remain competitive in the marketplace.
5. Product Innovation
Product innovation refers to the creation of a new or significantly improved good or service. It includes both the development of new products and changes in the design of established products. It can also refer to the use of new materials or components in the manufacture of current products, or the improvement of an existing product’s overall performance using new technology or materials.
6. Radical Innovation
Radical innovation refers to research and development aimed at creating new products, technology, or techniques that leap ahead or completely change the marketplace. The goal is to completely change how an industry or market functions, putting the innovator at the center.
7. Incremental Innovation
Incremental innovation is research and development to design and implement a series of smaller changes over time, by improving performance, upgrading materials, or lowering manufacturing costs. This helps a company stay competitive or increase its position in the market. It’s the most common form of innovation.
8. Business Innovation
Business innovation refers to the development and refinement of an organization’s process for generating new ideas, workflow procedures, methodologies, services, and products. The goal is to create practices that accomplish core business initiatives.
9. Technical Innovation
Technical innovation uses technology in new ways to enhance business workflows and methodologies as well as improve efficiency in an organization. Some examples include automating business processes, developing new technologies for the marketplace, or implementing new technology to increase worker efficiency and decrease costs.
10. Corporate Innovation
Corporate innovation, sometimes known as organizational innovation, refers to how the employees of a company, the public or another defined group, organize research and development together. Innovation most often occurs from the collaboration and combined efforts of a group, not an individual working alone.
11. Marketing Innovation
Marketing innovation refers to the research, development, and implementation of new practices and technology that increase the effectiveness and efficiency of a company’s marketing strategy. This type of potential breakthrough innovation can provide a competitive advantage in the marketplace by increasing brand awareness and market share.
12. Value Innovation
Value innovation refers to the process by which a company develops and introduces new technologies or product improvements that are designed to lower costs as well as differentiate the product in the marketplace. Improvements made through value innovation to create both an improved product or service and, at the same time, result in cost savings through the elimination of unnecessary steps in the production cycle.
Successful and sustainable innovation requires thinking on a grand scale and imagining a full range of possibilities. It involves envisioning a future that doesn’t exist yet. Regardless of the type of innovation you’re involved in, you’ll need a tool to help you get organized and rapidly implement ideas.
Want to learn more about unlocking innovation in your organization? Sign up for a free, 30-minute consultation. Schedule Now!
What are the different types of innovation?
With so many types of innovation and even more definitions, it can be confusing to discuss innovation in your organization. It seems like new innovation types arrive at the scene all of the time, leaving people reaching for Google to get up to speed. Whether you’re new to innovation or have years under your belt, this simple guide that explains the different types might help.
1. Open Innovation
Open innovation is the concept that, in a world of mass-distributed knowledge, firms can and should partner with others to advance their goals. It is an innovation by sharing both the risks and rewards of new research. The paradigm is that companies cannot afford to rely strictly on their own internal methods of innovation, but can buy or license processes or inventions from other companies. This helps to further their goals while also providing the opportunity to license or use joint ventures to share their under-utilized technology or processes.
2. Closed Innovation
Before being “open” as in open innovation, research is conducted internally within a company to privately create and manage inventions and new advancements before sharing them with the world. Successfully closed innovation requires protection, control, and ownership of the intellectual property while still under development, through the use of special product development teams within a company.
3. Social Innovation
Social innovation refers to both the new strategies, concepts, and ideas innovated to meet the social needs of society (including, but not limited to, working conditions, education, health, and community development) as well as the social processes of innovation, including open innovation techniques. It can also refer to innovations that have a social purpose, such as distance learning and online volunteering.
4. Process Innovation
Process innovation is the development and application of technology, production method, or method of delivery that are newly introduced or improved to a notable degree. This includes changes in technique, equipment, or software that help an organization remain competitive in the marketplace.
5. Product Innovation
Product innovation refers to the creation of a new or significantly improved good or service. It includes both the development of new products and changes in the design of established products. It can also refer to the use of new materials or components in the manufacture of current products, or the improvement of an existing product’s overall performance using new technology or materials.
6. Radical Innovation
Radical innovation refers to research and development aimed at creating new products, technology, or techniques that leap ahead or completely change the marketplace. The goal is to completely change how an industry or market functions, putting the innovator at the center.
7. Incremental Innovation
Incremental innovation is research and development to design and implement a series of smaller changes over time, by improving performance, upgrading materials, or lowering manufacturing costs. This helps a company stay competitive or increase its position in the market. It’s the most common form of innovation.
8. Business Innovation
Business innovation refers to the development and refinement of an organization’s process for generating new ideas, workflow procedures, methodologies, services, and products. The goal is to create practices that accomplish core business initiatives.
9. Technical Innovation
Technical innovation uses technology in new ways to enhance business workflows and methodologies as well as improve efficiency in an organization. Some examples include automating business processes, developing new technologies for the marketplace, or implementing new technology to increase worker efficiency and decrease costs.
10. Corporate Innovation
Corporate innovation, sometimes known as organizational innovation, refers to how the employees of a company, the public or another defined group, organize research and development together. Innovation most often occurs from the collaboration and combined efforts of a group, not an individual working alone.
11. Marketing Innovation
Marketing innovation refers to the research, development, and implementation of new practices and technology that increase the effectiveness and efficiency of a company’s marketing strategy. This type of potential breakthrough innovation can provide a competitive advantage in the marketplace by increasing brand awareness and market share.
12. Value Innovation
Value innovation refers to the process by which a company develops and introduces new technologies or product improvements that are designed to lower costs as well as differentiate the product in the marketplace. Improvements made through value innovation to create both an improved product or service and, at the same time, result in cost savings through the elimination of unnecessary steps in the production cycle.
Successful and sustainable innovation requires thinking on a grand scale and imagining a full range of possibilities. It involves envisioning a future that doesn’t exist yet. Regardless of the type of innovation you’re involved in, you’ll need a tool to help you get organized and rapidly implement ideas.
Want to learn more about unlocking innovation in your organization? Sign up for a free, 30-minute consultation. Schedule Now!
