Different process to more commercial forms of innovation
- Social innovation follows a different process to more commercial forms of innovation.
- Innovation always requires a radical flash of insight – a ‘eureka!’ moment.
- Successful innovation depends on having patent protection for the core idea.
- Innovation can take many forms, all involving a change of some kind. Which of the following is NOT a form of innovation?
- Product (or service) innovation – changes in what is offered to the world
- Petroleum innovation – amount spent monthly by a business on its fuel costs
- Process innovation – changes in the way offerings are created and delivered
- Position innovation – changes in the context in which innovations are launched
- Haagen Daz ice cream was created to open up a new market amongst adults for what had traditionally been seen as a children’s food. This is an example of position innovation.
- Which of the following would you class as a radical innovation? (Several choices may be correct.)
- The fibre tip pen
- The electric light bulb
- The laser
- The photocopier
- Wide-bodied jet airliners
- Which of these innovations would not qualify as a dominant design?
- The two wheeled diamond frame bicycle
- Direct online insurance via the Internet
- The petrol driven internal combustion engine
- The 5 string bass guitar
- Discontinuous shifts in technology always favour newcomer firms and established firms inevitably fail to take advantage of them.
- Which of the following is the discontinuous innovation?
- Moving from four to six cylinder car engines
- Moving from CD to DVD music and entertainment systems
- Moving from small shops to self-service supermarkets
- Moving from sugar to artificial sweeteners in food products
- Which of the following would NOT qualify as a discontinuous innovation?
- Voice over internet protocol (VOIP) telephony
- Gene therapies for cancer treatment
- Flat bed sleeping in business class airline cabins
- The Internet