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8 Types of Innovation in Business: A Comprehensive Guide

Qmarkets

A real-life example of process innovation is the Toyota Production System (TPS), which was developed by the Japanese automotive manufacturer Toyota. Implemented first in Toyota manufacturing plants, this innovative production system dramatically reduced costs while improving product quality and production flexibility.

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Key Innovation Issues for 2016 and Beyond

Integrative Innovation

It requires a more deliberated approach, such as the lean startup process, design thinking or a combination thereof. Tip: Tim Kastelle has posted a worthwile series on how to implement lean startup for innovation initiatives. These results seem to complelement findings of a recent study , conducted by MIT SMR and Deloitte.