Types Of Innovations
We know that innovation is a much broader concept than R&D.
Based on your readings how do you define innovation? What are the different types of innoavtions?
Give real life examples for all types of innovation
Innovation is implemantation of a new improved products as good and services, process, a new marketing method, anew organizational method, workplace organisation.
Innovation is central to affect to the economic growth positively. Innovation iclude many tools. One of them R&D. So, ınnovation is a much broader concept than R&D. There are four types of innovation;
1) Product Innovation; A new implemantation on the good and services. For example; I-phone produce new mp3 player, I-pad produce new digital camera.
2) Process innovation; A new and significant implemantation on improved production time. For example Barcode system, RFID chips.
3) Marketing Innovation; The implemantation of new marketing method. It ıncludes changes ın product design, packaging, placement, promotion and pricing. For example; e-marketing, Amazon, e-bay, wall market.
4) Organisational Innovation; The implemantation of a new organisational method in the firms. For examples; workplace organisation, external organisation.
The difference between technological and non-technological innovation.The examples for non- technological innovation and comment on their contribution to growth.
Technological innovation include two types of innovation. These are production and process innovation as tangible assets. These innovation provided by physical capital.
Non- technological innovation include two types of innovation as marketing and organisational innovation. These innovations are intangible assets. These are provided by human capital.
For examples about these innovation types; non-technological innovations include first-time use of product placement in movies, television programmes, the basic changes on marketing products such as promotion, pricing, placement, packaging etc.
In recent years, ınvestment in intangible assets increase in the many OECD countries. For example, intangible assets investment is more than tangible assets in the USA. Intangible assets provide productivity to firms and countries.