Podcast
Questions and Answers
What characterizes the Incremental form of innovation?
What characterizes the Incremental form of innovation?
- Improves an existing offering by adding new features (correct)
- Uses existing technology within a new market
- Is the rarest form of innovation
- Involves the creation of entirely new technologies
Which form of innovation involves applying existing expertise and technology to offer new services and products for different markets?
Which form of innovation involves applying existing expertise and technology to offer new services and products for different markets?
- Radical
- Incremental
- Architectural (correct)
- Disruptive
What is the focus of Disruptive innovation?
What is the focus of Disruptive innovation?
- Improving an existing offering by adding new features
- Using existing technology within a new market
- Creating entirely new technologies, services, and business models
- Applying new technologies or processes to existing industries (correct)
Which form of innovation is associated with using new technology within an existing market?
Which form of innovation is associated with using new technology within an existing market?
What makes Radical innovation stand out?
What makes Radical innovation stand out?
Study Notes
Types of Innovation
- Incremental Innovation: Characterized as building upon existing knowledge and technology to create new products and services through continuous improvement.
- Application Innovation: Involves applying existing expertise and technology to offer new services and products for different markets.
- Disruptive Innovation: Focuses on creating new markets or disrupting existing ones by providing a new value proposition that isn't currently being met.
- Sustaining Innovation: Associated with using new technology within an existing market to improve products or services.
- Radical Innovation: Stands out by introducing fundamentally new products, services, or processes that transform markets or industries.
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Description
Learn about different types of innovation such as incremental and architectural. Incremental innovation involves improving existing offerings by adding new features or changing design, while architectural innovation applies existing expertise to offer new services in different markets.
