INNOVATION, INNOVATION STRATEGY, AND STRATEGIC INNOVATION

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INNOVATION, INNOVATION STRATEGY, AND STRATEGIC INNOVATION

Strategic Innovation

Innovations in killing

Organizational breakthroughs

Innovations in the physical movement of people and goods

Innovations that allowed real-time communication beyond the range of a single human voice

Innovations that extended life

Innovations that enabled the Industrial Revolution and its successive waves of expanded material output

Innovations that are integral to the physical and operating infrastructure of the modern world

Innovations that expanded the human intellect and its creative, expressive and moral possibilities

articulated versus unarticulated need

Meeting a currently unmet customer need

Creation of value

Product innovation that satisfies specific needs and wants.

More effectively and efficiently

More effectively

More efficiently

Innovation as a process

A multi-stage process by which an organization transforms an idea into a new or improved product or proces.

process of translating an idea into a commercially viable customer value proposition.

Innovation

Value

Solutions

Useful

Benefit

Process

Product

Improved

Novel

New

Knowledge

Idea

The implementation of a new or significantly improved product (good or service), or process, a new marketing method, or a new organizational method in business practices, workplace organization or external relations

Marketing Strategy

Affects, cognitions, and behaviors that influences costumers.

Management responsabilities: organization

Behaviors of the organization: interactions

Innovation Strategy

What types of innovations will allow the firm to create and capture value, and what resources should each type of innovation receive?

How will a firm capture a share of the value its innovations generate?

How will a firm’s innovations create value for potential customers?

Marketing Innovation

Customer Value Proposition

Revenue Model: Major Revenue Source(s)

Major Cost Elements

Business Model Innovation

The operating model

Organization

Cost model

Value chain

The value proposition

Revenue model

The offerings

The target segment

Types

Radically new product

Incrementally new product

Product innovativeness

Innovativeness

Sustainable product innovation

Sustainable innovation

Social innovation

Reverse innovation

Architectural innovation

Exploratory innovation

Exploitative innovation

Business model and business model innovation

Technological breakthrough product innovation

Market breakthrough product innovation

Radical product innovation

Incremental product innovation

Product innovation

Process innovation

Order

Altering the rules of competition

Altering industry structure,

Deterring entry of new competitors into markets that are currently served by the firm,

Preempting a product market opportunity

Neutralizing the effects of competitor’s actions

Differentiating the firm’s product offerings from competitor’s offerings,

Entering new markets,

Strengthening a firm’s market position in presently served markets.

Shaping consumer’s preferences

Responding to changes in consumer's preferences.

Meeting consumers’ needs and wants