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innovation |
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innovation noun 1. Something new or different 2. The act of innovating, or introducing a new product, technology, or method How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| Then you have to define whether you're talking about incremental innovation, such as a brand extension of toothpaste, or more radical, breakthrough ideas. To clarify the relationship between innovation, corporate strategic scope and organizational capabilities, four different perspectives of innovations ranging from incremental innovation to innovations leading to drastic change have been offered (Hickman & Raia, 2002). While incremental innovation is about improvements in either cost or features of an existing product, the authors describe a "radical innovation" as "a product, process, or service with either unprecedented performance features or familiar features that offer potential for significant improvements in performance or cost. |
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