Accordingly, innovation is categorised as product innovation, process innovation (supply chain innovation), or marketing innovation. A company is successful with effective innovation for one simple reason – they collect information on the market they’re in. In addition, there are two types of innovation the first being useless innovation and the second being effective innovation. Within the materials and systems themselves. Include technological advancements to improve quality, reliability and value Furthermore, innovation is also seeking new ways to enter a market and position yourĬompany in a more competitive and sustainable situation. Specific value that in right for the customer. Positioning innovation will include offering Moreover, the business process innovation isįinding new and cheaper ways of delivering raw materials into the finished Ways to solve problems that lead to the creation of new products. Innovation is discovering and thinking of new
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