“Types of innovation simply”

“Innovation is the specific instrument of entrepreneurship… the act that endows resources with a new capacity to create wealth. (Peter Druker)

Innovation becomes the trailblazer in the services industry, innovation has the potential to gain many benefits for itself, like competitive advantages, unique selling proposition. Innovation leads to the rapid growth of the industries. Innovation coming in various ways and types. Understanding the best suitable innovation type will be a key advantage for the organization. By analyzing Two main dimensions’ “Market” Vs “Technology” innovation can have categorized for 4 key innovations types.  

Choosing the best suitable innovation type for your organization, out of the above 4 types of innovation, and investing might be very advisable to outperform in industry rivalry.

by Buddhika Dananjaya