Types of Innovation: Incremental and Radical

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Questions and Answers

What determines how you differentiate or develop your products according to demographic changes?

Shifts in wealth (correct)

Aging

Globalization

Urbanization

What is the main purpose of intellectual property rights?

To promote innovation and creativity (correct)

To restrict innovation and creativity

To protect the use of old innovations

To control the commercialization of inventions only

What is a factor that influences customers' changing buying habits?

Technological advancements

Changes in industry economics

Changes in mood and perception (correct)

Demographic changes

Which of the following is an example of a change in buyer attitudes and priorities?

Increased demand for insect protein and vegetarian/vegan products Signup and view all the answers

What is a type of industry and market change that affects business strategies?

Competitive strategies Signup and view all the answers

What is the result of applying old innovations in new areas?

New scientific and business knowledge Signup and view all the answers

What is the primary goal of incremental innovation?

To make small, gradual improvements to existing products or services Signup and view all the answers

What is a characteristic of ambitious innovation?

It can lead to much larger, more impactful results Signup and view all the answers

What is an example of an unexpected occurrence that can be a useful source of innovation ideas?

An unexpected failure Signup and view all the answers

What is a process weakness or need that can be a source of innovation ideas?

A weak link in a business process Signup and view all the answers

What is the main difference between incremental and ambitious innovation?

The level of risk involved Signup and view all the answers

What is a perception-reality incongruity that can be a source of innovation ideas?

A conflicting internal reality Signup and view all the answers

What is the primary purpose of the concept of novelty in intellectual property?

To determine whether an invention can be protected by a patent Signup and view all the answers

What is prior art in the context of patent applications?

Any information that was publicly available before the patent application was filed Signup and view all the answers

What is the requirement of non-obviousness in patent applications?

The invention must not be something that someone could easily figure out or develop based on existing knowledge Signup and view all the answers

What is the purpose of industrial applicability in patent applications?

To determine whether an invention is useful and has a practical application Signup and view all the answers

What is the TRIZ model used for in innovation?

To generate innovative ideas and solutions Signup and view all the answers

What is a type of intellectual property right that protects a name or logo?

Trademark Signup and view all the answers

Study Notes

Industry and Market Changes

Competitive strategies, players, customers, and expectations are key factors in industry and market changes.
Industry economics and customer value propositions also play a significant role.
Technologies and operations are crucial in shaping industry and market changes.

Demographic Changes

Aging population affects product development and differentiation.
Shifts in wealth influence product development and differentiation.
Urbanization and globalization impact product development, with a focus on developing products for refugees.
Culture and labor force changes also influence product development.

Changes in Buyer Attitudes and Priorities

Changes in mood, perception, and priorities influence customer buying habits.
Examples of changing buyer attitudes and priorities include the trend towards insect protein, vegetarian, and vegan products.

New Scientific and Business Knowledge

New scientific and business knowledge, including business models, drives innovation.
Expensive innovation with long lead times and risks can lead to significant results.

Intellectual Property Rights

Intellectual property rights protect creations of the mind, such as inventions, literary and artistic works, and symbols and designs.
There are two types of innovation: incremental and radical.
Incremental innovation involves small, gradual changes to existing products, processes, or services.
Radical innovation involves developing entirely new products, services, or business models.

Types of Intellectual Property Rights

Trademarks, licenses, copyrights, designs, patents, utility models, trade secrets, and agreements with suppliers are all types of intellectual property rights.
Novelty is a key concept in intellectual property, requiring an invention to be new and not obvious to someone skilled in the relevant field.

Novelty in Intellectual Property

Prior art refers to any information that was publicly available before the patent application was filed.
Non-obviousness requires an invention to not be obvious to someone skilled in the relevant field.
Industrial applicability requires an invention to be useful and have a practical application.

Strategies for Finding Ideas

Unexpected occurrences, perception-reality incongruities, and process weaknesses or needs are all useful sources of ideas.
The TRIZ model and the 6 thinking hats approach can be used to search for ideas.

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Description

Test your understanding of incremental and radical innovation, two different approaches to innovation. Learn how incremental innovation involves making small, step-by-step changes to existing products, processes, or services, and how it differs from radical innovation.