The 4 Types of Innovation
In a recent HBR article, Greg Satell, articulates there are four basic types of innovation depending on the problem that needs solving. In turn there are various techniques that are best leveraged depending on the situation.
- Sustaining Innovation: Where most innovation occurs as we are simply trying to improve what we are already doing. The problem and the domain skill sets are fairly clear
- Breakthrough Innovation: Where the problem is well understood but it’s a very tricky one to solve and the skill sets required to solve it are not clear cut.
- Disruptive Innovation: When innovating your products or services further won’t help and you need to innovate your business model as the marketplace has changed.
- Basic Research: When neither the problem nor the domain skill sets required to solve it are well defined. A base level of research needs to be conducted to gather more data.
You can read Satell’s complete article here, including how a bag of clams saved a microchip manufacturer hundreds of thousands of dollars.