TED DARICA COLLEGE / 8-A
The
COMMITTED
What is Innovation?
Ahmet İrfan ŞAHİN
Innovation refers to the improvements made by any business in its products or services, processes, organization or business model. There are different types of innovation.
Innovation is divided into four main groups: product innovation, service innovation, process innovation and marketing innovation. Apart from this, it can also be examined under more groups. For example, we can divide into three groups as open innovation, closed innovation and hybrid innovation in terms of cooperation model. Four groups as proactive innovation, active innovation, reactive innovation and passive innovation in terms of strategy, and three groups as radical innovation, incremental innovation and disruptive innovation according to the degree of novelty of their results can be listed.
Let’ s examine service innovation from the main four groups. Service innovation is the introduction of new or significantly improved products, goods and services. Examples include smart speakers, smart watches and virtual reality glasses. Service innovation is the introduction of a new service approach or a significant change to an existing service. Examples include mobile banking apps, food ordering apps and online shopping sites. Marketing innovation is the introduction of new marketing methods that involve significant changes in the design or packaging of a product, product placement, product promotion or pricing. Examples include personalized mailings, phenomenon marketing or pricing promotions such as“ buy three get one free”. Finally, process innovation is innovation in a new or significantly improved method of production or delivery. Examples include the Toyota Production System, the mass car production system developed by Henry Ford, and subscription digital content platforms. In short, innovation is divided into many groups and can be exemplified a lot.
As can be understood from the examples, innovation appears in every aspect of our daily lives and the rapid progress of technology prepares the ground for this.