Typology of Innovation

So I was stuck for ideas for a new topic strangely enough because there is too much to get our heads around! However going back to one of my first ever lectures I read a few sentences on the different types of innovations so decided to look into it, I believe the table below will give a better insight on the different types of innovation. Once again feel free to post any comments, or points that you readers would maybe like to further investigate, and discuss. 

Type of Innovation
Example

Product
The development of a new product

Process
The development of a new manufacturing process

Organisational
A new venture division, a new internal communication system, introduction of a new accounting procedure

Management
TQM (total quality management)systems, BPR (business process reengineering)

Production
Quality circles; new production planning software, e.g. MRP II; new inspection system

Marketing
New financial arrangements, new sales approach, e.g. direct marketing

Service
Internet-based financial services
  • Source: Trott,P (2008). Innovation Management and New Product Development. 4th ed. Essex: Pearson Education. p. 16


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