Innovation can be different ways:

Innovation is different from invention: it is the introduction of new amelioration.

We can distinguish different type of innovation:

Product innovation: It is a product that’s significantly improved over its current use. Product innovation may be a change in: 

• • Functional characteristics (new motor, compact size, etc…)

• • Performance (works better than the other brand!)

• • Ease of use (look how easy it can be!)

Service innovation: Innovation in the service similar to product but more in the intangible aspect. ( new delivery methods, contactless paiement, etc..)

Process innovation: Innovation in production or delivery methods. Henry Ford’s widespread application of the assembly line to automobile production revolutionised the industry, and it made automobiles affordable to most anyone.

Operational innovation: it is about coming up with brand new ways of doing whatever processes are part of your business. The advantage of this strategy is that it’s very difficult for a competitor to copy your operational plan.

Supply chain innovation: Innovation in the sourcing of input products from suppliers and the delivery of output products to customers. Amazon is an excellent example by delivering product faster and optimising is supply flow by its logistic center and automatisation system.