What is the difference between incremental and radical innovation? Understand!

[bitheerani319]

According to data from IBGE, around 33% of Brazilian companies are considered innovative

In general, to innovate means to create or transform an existing product/service. This term is widely used by current companies that seek to create or remodel their businesses to transform the way society relates to the world and carries out various activities.

Those who remain stagnant end up losing market share. That is why it is call number list to continually invest in innovations, whether in processes, products or services, business models, or other areas of the company.

In this sense, implementing incremental and radical innovations can make all the difference to the organization's performance.

Want to learn more about these types of innovation? Check out this article and learn how to take advantage of them in your business!

What you will see in this article:


After all, what is the concept of innovation?
The Importance of Innovation
The Different Types of Innovation
Incremental and Radical Innovations: What are the differences?
What is the best type of innovation for my organization?
After all, what is the concept of innovation?

The concept of innovation has always been explored by the market, but with the emergence of startups it has become even more widespread in society. In general, innovation means creating something from scratch, renewing or recreating. Therefore, it is directly related to changing and/or improving something that already exists.

The renowned Austrian writer and professor Peter Drucker attributed innovation to the ability to transform existing ideas, tools, products and services into something profitable that generates wealth. In his words, “any change in the wealth-producing potential of resources that do not already exist constitutes innovation.”

To complement this meaning, the Organization for Economic Cooperation and Development (OECD), in the Oslo Manual, refers to innovation as:

“...a new or improved product or process (or a combination of the two) that differs significantly from the company's previous products or processes and that has been introduced to the market or put into use by the company.”

The OECD is a global reference when it comes to concepts and methodologies aimed at analyzing organizational innovation. And when delving deeper into this concept, it explains that there are central components that characterize it well.