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.
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..