Types of innovation by novelty of results

Innovations can also be grouped by the novelty of their results.

Incremental innovation:

Incremental innovation includes the modification, refinement, simplification, consolidation and enhancement of existing products, processes, services. The majority of innovations fall in this category.

Radical Innovation:

Although possessing some traits similar to the previous product, the new product incorporates a few attributes which correspond to previously non-existing functions, for example: ATM machines or smart phones.

Disruptive innovation:

This type of innovation is characterized by a complete breakdown of the previous existing products. It may arise in response to the satisfaction of a certain need, or by creating a new need which previously did not exist. Examples are Internet or Facebook.

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