Types of Innovation

As Great Leader Steve Jobs said that “Innovation is the only way to win”, Innovation creates game changer or evolve Market & set up new trends & techniques in the Market.

There are various types of Innovation some of them are provide below:

1: Technological/Disruptive Innovation:

It’s usually takes place when company try to gain a competitive advantage either by reducing the cost or by introducing the new technology, Disruptive Innovation is usually a technological advancement that renders previous products/services/even entire industries.

For Example:

The Smartphone disrupted Land Lines.

MP3 Players disrupted CD’s (evolve Digital Music).

Itunes disrupted the Online Digital Media Store (Also let users to have a High Quality of Legal Music files) etc etc..

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