Innovation takes different forms depending on the field where it is developed, there are many types depending on the different authors. In a recent investigation we managed to count up to 10 different types of innovation, but we wanted to rescue the most influential or the most used in a certain process, staying with 4 innovation types that we will develop in this post.
  • Innovation in the business model: Every manager, CEO, etc. should rethink how to develop innovative business models or investigate other types of business models for their companies. This implies thinking about how the business model contributes value to clients and how they pay for this value contributed, it is important to consider who is the market in which the company develops.
  • Innovation in marketing: New technologies are playing an important role in this area since factors such as mobility, comfort, time and personalization of products, lead companies to think about innovating how to market their products and services to reach a certain market.
  • Innovation in the product or service: It is the introduction into the market of a new or improved product or service with respect to its basic characteristics, technical specifications, embedded software and other intangible components. In order to achieve innovation, be it the product or the service, we must always keep our customers or final consumers in mind, they are the ones who have new motivations and new needs that must be met.
  • Innovation in the organization: What this term refers to is that within the organizational structure, one must identify weaknesses that the business has in its internal relations, in creativity and opening of information so that these can be converted into opportunities. It should be noted that organizational innovation is based entirely on sharing knowledge and achieving the learning of all the people who make up the company and thus create a culture of continuous change and productive leadership.
  • Innovation in the processes: Here it is about redefining the productive processes, it can serve to increase the value of the final product thanks to a lower manufacturing cost, a shorter response time or a higher quality, remember that innovation is also redefining or incorporating new processes.

I believe that we must develop cultures aimed at innovation since their application will generate a competitive advantage in all areas that involve an organization, so we can also ensure the conservation of that organization in the market and adapt to new environmental trends.

Greetings!