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MPU3242 - INNOVATION MANAGEMENT

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Replacing an existing component in a system without affecting the design and configuration is known as Systems Innovation.

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Amazon's robotic system optimize warehouse picking, packing and delivery, is an example of process innovation.

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Discontinuous

Innovation will result in a significant change in consumer behaviour.

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Internet and World Wide Web transform global communication & information sharing; and give rise to cloud computing. This is an example of a radical innovation. 

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Business

Model Innovation is capable of setting future market trends for certain products.

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A

breakthrough product involves technological innovation that is not very

innovative and have a low degree of innovation.

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Systems

Innovation normally has improvement in both social and technical dimensions.

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The

most common and easiest type of innovation to be implemented in many

organizations is Architectural Innovation.

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Changing

the product placement is one of the methods that can be used in Marketing

Innovation.

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Innovation of high density indoor farming that result in resilient and sustainable food system is an example of architectural innovation.

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