10 Types of Innovations with Examples:- There are different types of innovations. In this article, we are going to discuss 10 Types of Innovations with Examples.
Innovation is a creative process that introduces a new solution to the world by enhancing entrepreneurship. Innovation is per term or a combined term of entrepreneurship or an entrepreneur. Because it is the spark process of entrepreneurship or an entrepreneur, it is a changing process that ends with some world-changing creation. It makes solutions to problems.
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10 Types of Innovations with Examples
In this article, we are discussing 10 types of innovations with examples. These are,
- Technological Innovation
- Product Innovation
- Process Innovation
- Service Innovation
- Business model Innovation
- Disruptive Innovation
- Radical Innovation
- Design-driven Innovation
- Social Innovation
- Responsible Innovation
Let’s discuss them one by one.
Technological Innovation
The inheritance of Schumpeter’s typology remains in the definitive concept of innovation centered on technological innovation. According to him the opening of novel national or international markets and the organizational enhancement from the craft shop and factory, such as steelmaking, demonstrate a procedure of industrial alteration that continually transforms the economic arrangement from within, which is wind-up the old structures and forming a new one.
Technological innovations have dual “forces” from which discontinuities may create, from a marketing way, or from a technological way. They sanction, Product innovation may be essential to novel marketplaces to drive, and unique marketing skills for the firm. Similarly, product innovation may need a paradigm shift in the state of science or technology rooted in a product, new R&D resources, and/or new production procedures for a firm. Some products may require discontinuities in both marketplace and technological aspects.
Technological innovation exploring by linking inputs in terms of investment in R&D to outputs in terms of patents or novel products and manufacturing processes.
Technological innovation Examples
Mobility, cloud computing, the Internet of Things (IoT), Artificial intelligence (AI), Augmented Reality (AR) and Big Data are some examples of technological innovations.
Product Innovation
Product innovation is the most common innovation type among the 10 Types of Innovations. This product innovation is a product, made available to possible customers, that is novel or meaningfully dissimilar regarding its features or intended usages.
process and product innovations, refer to production or delivery innovation after the execution of a new or meaningfully changed production or delivery procedure, which includes important changes in inputs, structure within the institutional unit, and practices.
Linking users to the improvement of products and services is not a novel concept. Several studies show the assistance of customer feedback and its incorporation into innovation processes. For example – user participation in living labs for co-creating products or helping users in tailoring standard product aids for them. This innovation way, however, is very dissimilar from the formation of user innovation societies that displace the manufacturer or producer role.
Product innovation Examples
Light bulbs, televisions, and airplanes are some examples of product innovation.
Process innovation
Process innovation is one of the old categories defined by the Oslo Manual (2005) and is strictly connected to product innovation, a product innovation that makes the necessity for process innovation and innovation that makes the necessity for a product.
Product innovation is a novel element hosted in an organization’s production or service operations. It includes input materials, task specifications, work, and data flow mechanisms, and equipment used to produce a product or purify a service to attain lower costs and/or advanced product quality. The presentation of new or implicitly enhanced production methods and procedures may include variations in equipment or production organization or both. Advertising methods to increase organizational productivity are also components of process innovation.
A rising worldwide phenomenon related to the development of process innovation in companies and startups is the rise of design thinking and lean thinking, which includes the use of a wide variety of novel material-processing technologies as well as novel work practices on the coordination of human resources.
Numerous industries have practiced a paradigm shift from standardized, large-scale manufacturing to production that is lither and low-volume manufacturing or quick adaptation to market demand. Generally, lean manufacturing and manufacturing process innovation are different methods that organizations can adopt to innovate with limited assets in the context of quickening the stride of technological development.
Process Innovation Examples
AliExpress – dropshipping model, Spotify, and other music-streaming services, and Henry Ford’s assembly line process are some examples of process innovation.
Service Innovation
Given the significance of services to the major part of employment and output in economic growth. Innovation in services has recently been identified but not considered as widely as in manufacturing.
To produce a service is to establish a solution to a problem (an action, an operation), which does not primarily involve providing a good, being usually intangible mixtures of processes, people skills, and materials.
Services innovation contains activities, such as transportation and logistics, information and knowledge-based services, food, healthcare, and education, among others. Broadly, services are categorized by intangibility, heterogeneity, inseparability, and perishability, referred to as IHIP characteristics.
Service innovation contains both innovations in exact services and service systems. Which represents the structure of the system that creates the service, namely the organization and the environment. However, the inclusion or not of technology and the “intangibility” in service innovation are habitually unclear.
Discussions on service innovation stimulus not only service companies but also traditional manufacturing firms, which have gradually started to realize the role of services as a prospect to discriminate their products and gain viable benefits. Therefore, developing services has become a new strategy for firms’ crosswise altered industries and innovative services have appeared as strategies for attaining sustainable competitive advantage.
Service Innovation Examples
Cloud computing and banking technological services are some examples of Service innovation.
Business Model Innovation
A business model (BM) is measured as an important vehicle for innovation but also a source of innovation in and of itself, namely a “Business model innovation.” Many experts point out that business model innovation characterizes a new measurement of innovation, distinct, albeit complementary, to traditional measurements of innovation, such as product, process, or organization.
Business model innovation is the conscious change of a current business model or the making of a new business model that advances its functions and pleases customer needs healthier than the present business models. In this respect, organizational and marketing innovations are essential to the primer of uniqueness in business models.
The untouched market of the world’s poor countries and convinced sectors in emerging countries represent a large opportunity for companies to aid customers and make revenue with social impact. Such business opportunities contest predictable ways of doing business and companies are advised to reconsider each step in their supply chain and develop novel business models due to the primarily different social, economic, and cultural environments that describe emerging markets. In this admiration, digitalization plays a critical role in the execution of business model innovations, predominantly in digital transformations of the value chain and marketing.
Business Model Innovation Examples
Xerox, Netflix, and Dell are some examples of business model innovation.
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Disruptive Innovation
The two requirements for a disruptive innovation contain a performance that exceeds the mainstream characteristics of the current product and unequal inducements between an existing healthy business model and the possibly disruptive business model.
Any variation in a business model that allows superior or novel value to be distributed to consumers and approved by them establishes a disruptive innovation. Disruptive innovations can be high-tech, business models, and radical product innovations.
Innovations do not have to demonstrate radical advances in either technology or product functionality to be disruptive innovations. Disruption denotes more to a market/business phenomenon rather than a main technical breakthrough. These breakthroughs are called “radical”
There are numerous examples of different forms of innovations that Asian firms had familiarized themselves with, which demonstrated to be disruptive in the market. Such as “cost innovation” (reengineering the cost construction in novel ways to compromise customer’s adequate quality and comparable or higher value for less price); “application innovation” (finding innovative tenders for existing technologies or products); and “business model innovation,” (adjusting features that can be adapted speedily and at the least cost).
Disruptive Innovation Examples
Facebook, Google, and FedEx are some examples of disruptive innovation.
Radical Innovation
Radical innovation deviations from the rules of the game and arise outside the aware realms of identical.
This Radical innovation is investigative and functions with higher levels of uncertainty. It can be definite moreover in terms of their antecedents (the scope of new data required) or their significance (the increased performance they make conceivable).
Three criteria that an innovation has to accomplish to be measured radical.
- Existence of a novel invention.
- The invention needs to be unique.
- Must be able to inspire future inventions.
Likewise, for an innovation measure as radical, the importance is a dramatic departure from current products. However, most radical innovations do not contain these requirements but take significant time to become accepted. For instance, a radical innovation is Apple’s progress with multi-touch interfaces and their related gestures to control handheld and desktop systems, even though Apple did not create them. Multi-touch systems have existed in computer and design laboratories for over 20 years and gestures have an extensive past. Even other companies had products on the market using multi-touch earlier than Apple.
Radical Innovation Examples
Apple iPhone, Washing machines, and personal computers are some examples of radical innovations.
Design-Driven Innovation
In a design-driven approach, the critical aspect of innovation concerns the skill to recognize, anticipate, and affect the appearance of new product and service meanings.
The design gives to meaning-driven innovations, initial from the understanding of subtle and unexpressed dynamics in sociocultural models, and results in radically new meanings and languages, often inferring a variation in sociocultural rules. The invention of the mini-skirt in the 1960s is an example of this.
What matters to radical design-driven innovations is the uniqueness of the message and design language, which is significant and predominant compared to the novelty of functionality and technology.
Therefore, to produce design-driven innovations, a company should be able to interpret the sense that a customer gives to products in a strongminded sociocultural context.
Another applicable movement in design-driven innovations is the application of design for talking to societal needs. This provides socially accountable solutions connected with both technological and social innovations.
Design-Driven Innovation examples
Mini skirt, Bird kettle, and Panda car are some examples of design-driven innovations.
Social Innovation
Define social innovation as a collective process of learning that includes the representative contribution of civil society actors intended to reply to a societal need over variation in social practices. That produces a transformation in social affairs, systems, and structures, contributing to huge socio-technical transformation.”
It is the orientation of social innovation to resolve societal needs over changes in social applications. That contributes to wider changes in socio-technical arrangements and the expansion of non-technological innovations. (e.g., social inventions are two women’s suffrage regulations in 1918 and 1928, introduced and diffused into society by a social program in the UK).
It is answering the vital problem of how to adjust the forms of production and consumption. To sustainable growth and the establishment of service innovations. (with or without technology), particularly social problems regarding most disempowered and weak social groups.
Social innovation is supposed as an independent innovation type. But also understood inter-dependence with other innovation types (technological, product, service, organizational, business, and design-driven innovations). Also, multi-stakeholder and cross-sectoral collaboration either progresses or presents social innovation between the public and private actors. Their association with civilian society.
Social Innovation Examples
Charter schools, Emissions trading, and Microfinance are some examples of social innovation.
Responsible Innovation
Responsible innovation (RI) is rooted in concepts such as “responsible development” “responsible study,” and “responsible knowledge-based innovation”. It is a clear, interactive process by which societal performers and innovators become equally responsive to each other. With an opinion on the (ethical) adequacy, sustainability, and social desirability of the innovation procedure and its saleable products.
Despite reaching a consensus on the significance of responsible research innovation (RRI), the term has flickered numerous arguments. Concerning the content and scope of technological innovation, real-world application, and the limited responsiveness paid to gaps between developed and developing nations.
Responsible research and innovation (RRI) and Responsible innovation (RI) may have an excessive impact on innovation systems. Considering their insinuations about the governance of innovation procedures. These are vital for the construction of RRI competencies through formal and informal education.
Responsible research and innovation offer the chance to debate the character of innovation and empower a deeper acceptance of the interrelationships among technological innovation and the wide nature of innovation, content, and the borders of the Nature of Science, Technology, and Innovation.
Conclusion
We discuss 10 types of innovation that the world is currently introducing. Sometimes these innovations are a combination of two or more others. So what is your idea about this article? Write down it in our comment section below.
