What are the 4 types of Business Innovation?

Bytesize Innovation
When it comes to Business Innovation, there’s 4 types of innovation that you should be aware of.
Each type has a particular scope associated with it.
Understanding the 4 types of innovation help in delivering a pipeline of value and a field of focus for the business.
1.Incremental Innovation, covers improvements in existing offerings, whether in be performance, price, Features, or other key points of value. A good example of this is Software updates
2Breakthrough Innovation
Completely new offerings, offerings inside existing categories, offerings that significantly uplift the value delivered. A good example of this is the Apple Watch, which extended but did not threaten the mobile market
3Disruptive Innovation
Covers entirely new categories, offerings that provide a radical uplift in value. A good example of this is the The iPad The iPad awakened the tablet market, which disrupted the laptop market
4Transformative Innovation
Covers radically new offerings and or experiences. These Innovations transform society and how it operates. For example, The Internet, Bitcoin, the Metaverse
If you want to learn more about the power that Applied business innovation brings to you or your company come, see me and the team at the APAC Innovation Institute. www.apacii.com. a proud authorised training provider of GInI the Global Innovation Institute.