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ENT 725 (5)
Chapter 3

ENT 725 Chapter 3 Notes.docx
ENT 725 Chapter 3 Notes.docx

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Ryerson University
Entrepreneurship and Strategy
ENT 725
Phil Walsh

ENT 725 Chapter 3 Notes Types and Patterns of Innovation Technology Trajectory the path a technology takes through its lifetime This path may refer to its rate of performance improvement its rate of diffusion or other change of interest Types of Innovation Four types of dimensions Product Innovation versus Process Innovation Product Innovations are embodied in the outputs of an organizationits goods or services Ex Honda developing a new hybrid electric vehicle Process Innovations are innovations in the way an organization conducts its business such as the techniques of producing or marketing foods or services geared towards improving the effectiveness or efficiency of a product Radical Innovation versus Incremental Innovation Radical Innovation is an innovation that is very new and different from prior solutions Ex wireless telecommunication products Incremental Innovation is an innovation that makes a relatively minor change from existing practices Ex adding a full keyboard to a cellphone or making a
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