| The history of human civilization is full of stories of | | | | organization. Based on the nature of this newness, |
| innovation or creativity, and inventions of different | | | | innovation is of three types: |
| types. Technological inventions have changed the | | | | Radical innovation: It is a major breakthrough as a |
| pattern of human lives. In the present global and | | | | result of technological invention that offsets industry as |
| competitive environment in which customers’ | | | | a whole. For example, invention of microchips has |
| aspirations are increasing day by day, every forward | | | | changed the face of computer industry – from |
| looking company is trying to satisfy its customer’s | | | | large-sized punched- card- based to small- sized chips- |
| needs in innovative ways. | | | | based computers with more memory and data |
| Innovation is the process of creating and doing new | | | | processing. |
| things. It is said when things slow down, that’s when | | | | Systems innovation: It creates a new functionality by |
| true winners emerge and they almost always beat the | | | | assembling parts in new ways. For example, creation |
| competition by creating something new, something | | | | of automobile engine was radical innovation and |
| unique. | | | | became a system innovation when it was combined |
| Topping the list is Apple, Inc. In the year of 2001 Apple | | | | with bicycles to create different types of two- |
| introduced i-pod and the rest is history. When the going | | | | wheelers. |
| gets tough, the tough innovate. | | | | Incremental innovation: It is the technical improvement |
| Innovation typically involves creativity, but is not identical | | | | and extends the application of radical and systems |
| to it: innovation involves acting on the creative ideas to | | | | innovations. Incremental innovations force organizations |
| make some specific and tangible difference in the | | | | to continuously improve their products and services |
| domain in which the innovation occurs. All the | | | | and keep abreast or ahead of the competition. The |
| innovation starts with the creative ideas as well as the | | | | creativity and innovation should be planned in a |
| successful implementation of creative ideas within an | | | | strategic context. |