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8 Types of Innovation in Business: A Comprehensive Guide

Qmarkets

Radical & Disruptive Innovation On the flip side, radical and disruptive innovation challenges the status quo by introducing new concepts, products, or models that shift market dynamics. Radical innovation is about making significant leaps forward, often creating new industries or reshaping existing ones.

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Innovation needs the power of completing the 4th Industrial Revolution

Paul Hobcraft

There are so many opportunities for innovation well beyond products and services. We can deploy new approaches, seek out new skills, engage different talent, and utilize design and digital capability to realize and leverage the power of connecting all those involved. We can open up so many new possibilities. coming from industry 4.0

Industry 289
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So Where Is Innovation Heading?

Paul Hobcraft

We are seeing blurred boundaries, digital is raising the stakes and fear of missing out, it is upping the speed at which others are competing with new concepts, ideas, and engagement with customers. Traditional methods and approaches to innovation are completely breaking down, hence my total belief we are in the new era of innovation.

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What do we expect from Innovation? Mostly disappointment

Paul Hobcraft

Now that is very disappointing but what do we expect from innovation? In one final quote from this article: “when boards seem to have a “widespread lack of board-level engagement in innovation processes (that) could be a major blind spot and a potential liability”. Customers and employees are driving innovation.

Report 212
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The innovation spectrum and where to start

Wazoku

The innovation spectrum. Innovation is not one specific thing, it is a spectrum. It can start with small, incremental changes and expand to radical innovation, creating brand new solutions or disrupting an entire industry. How to move up the innovation spectrum? Incremental. Differentiated.

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Innovation cannot expand without the 4th Industrial Revolution

Paul Hobcraft

this reluctance to embrace a new digitally connected world is feeding the “seeds of destruction” Customers expect rapid response, reduced delays, tailored designs and greater engagement. We can reach far more into underserved markets through greater customer connections and engagement, we can co-design with them.

Industry 213
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Overcome resistance and capture growth in the Financial Services Industry

Innovation 360 Group

Going forward, our customers and other stakeholders will be more receptive to change in how we engage with them and what we offer. Evidence points to two areas in particular – capabilities surrounding radical innovation and the breadth of innovation culture. The importance of radical innovation.