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innovation types

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Social Issues

 

Written by:

Dana M

 

Date added:

September 11, 2013

 

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A

 

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4 / 1036

 

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He was also the founder of the terms: “radical” and “incremental” innovations, which entail major sudden changes and continuously changing processes, respectively. Schumpeter set out a list of types of innovations which form the basis of today’s definitions and strategic choices. For example, the four most important aspects of nowadays’ innovation, namely product, process, marketing and organizational innovation...
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Adapting or developing ones products may help a company to protect or conquer market share from competitors. According to Rosenberg (1994), innovation goes together with uncertainty. Often, innovation is neglected or postponed due to the uncertainty of the outcomes. This may lead to the company not being able to obtain funding for their projects...
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