What are the four types of innovation strategy?
A plan put in place by a company to encourage technological or service delivery breakthroughs is known as an innovation strategy . A company's ability to innovate significantly affects the creation of new goods or services, and different businesses use various methods to achieve this objective. Understanding the various innovation tactics may help determine which technique works best. 1. Incremental Innovation incremental growth of concepts, products, or services inside an already-existing market. This Innovation makes new items marginally superior to their predecessors and only alters existing product compositions or service delivery methods. You may make things more compact, user-friendly, appealing, and effective through ongoing improvement without compromising their core functionality. For instance, a company that makes razors might add extra blades, heated razors, and rotating heads to their goods to improve them over time. 2. Revolutionary Innovation Theories about ideas, ...