article thumbnail

12 Types of Innovation You Should Know in 2021

IdeaScale

Process innovation is the development and application of technology, production method, or method of delivery that’s newly introduced or improved to a notable degree. Product Innovation. Product innovation refers to the creation of a new or significantly improved good or service.

article thumbnail

Top 5 Strategies for Successful Product Development in 2021

The Human Factor

With each failed design, you come closer to achieving that perfect product. Innovating all the time is challenging, so develop a plan to sustain your innovation efforts. . It’s a common misconception that you don’t need to obtain intellectual property rights until you’ve completed your product.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Rethinking Development Can Turn “Latin America’s Vicious Circle” Into a Virtuous One

Christensen Institute

So, Bimbo’s solution and first product innovation was wrapping its bread in transparent cellophane bags so people could check for freshness before buying. This innovation took off, but Bimbo needed to do more to truly serve the average Mexican customer. In 2021 alone Bimbo paid roughly $46 million in corporate taxes.

article thumbnail

Exploding the explosion of innovation myths

Jeffrey Phillips

I found an article today on the web that was published by the Wall Street Journal in September 2021 , that claims to explode the myths about innovation. Product innovation is just one of at least ten types of innovation Doblin defined decades ago, and most of the rest of the types aren't overly reliant on advances in physics.

article thumbnail

Future Trends 2021: Purpose & Co-creation

Be-novative

and the answer can serve as the beacon for all organizational decision-making in 2021 paired with collaboration in an online world. What is the benefit of being purpose-driven in 2021? ?? but in most projects in 2020 and 2021 that resulted in implementation, the process was slightly longer.

Trends 52
article thumbnail

5 Misconceptions to Avoid When Building Your Innovation Strategy

Qmarkets

Generally speaking, our society is headed towards greater automation and technological resources in almost every industry and for that reason, it is often assumed that all innovation must be technology-related when this is just not the case.

article thumbnail

5 Misconceptions to Avoid When Building Your Innovation Strategy

Qmarkets

Generally speaking, our society is headed towards greater automation and technological resources in almost every industry and for that reason, it is often assumed that all innovation must be technology-related when this is just not the case.