27.4.2. Types of Innovation

Try these first

1. 1.

   What is product innovation?

   Hint

   Think about new products that capture public interest.

2. 2.

   Give an example of process innovation.

   Hint

   Consider how data is managed and accessed in businesses.

3. 3.

   What type of innovation involves developing a new product?

   • Process Innovation
   • Product Innovation
   • Business Model Innovation

   Hint

   Consider which option highlights product development specifically.

4. 4.

   True or False: Organizational innovation refers to changes in management practices.

   • True
   • False

   Hint

   Recall the impact of management structure on company operations.

5. 5.

   Create a business proposal that includes examples of product, process, business model, and organizational innovations.

   Hint

   Think about how each innovation type complements the others.

6. 6.

   Evaluate an existing business's approach to innovation and suggest improvements.

   Hint

   Identify areas where the company can innovate further.