About This Chapter
Product & Process Innovation - Chapter Summary
If you're looking to deepen your knowledge of product and process innovation, this engaging chapter can help! Learn the definitions of these concepts and also delve into topics like multichannel retailing, social network analysis and people-oriented innovation. Each lesson in this chapter covers a unique topic, making it easy to pace your study of these concepts. Quizzes accompanying the lessons and a broader exam ensure you have a quality grasp of this chapter. If you need to clarify details presented in the lessons, don't hesitate to submit questions to our experts. Enjoy access to these resources 24/7 via any computer or mobile device. When you're finished with this chapter, you will be able to:
- List types and examples of product and process innovation
- Share examples of quantum and incremental product innovation
- Outline the steps involved in process innovation
- Discuss the benefits and challenges of multichannel retailing
- Identify and discuss types of collaboration tools
- Define and describe social network analysis
- Exhibit knowledge of public facing innovation in organizations
- Explain how to recognize opportunities for social innovations in organizations
- Detail types and examples of people-oriented innovation
1. Product Innovation: Types & Examples
After completing this lesson, you'll understand what makes a new product innovative. You'll see that it's not just about making something to sell for profit, but rather making something that has more uses and inspires and drives further creativity.
2. Quantum & Incremental Product Innovation: Definition & Examples
Technology changes all the time. In this lesson, we will learn about two different changes technology can make where products are concerned. Those two types of changes are referred to as quantum and incremental product innovation.
3. Process Innovation: Types & Examples
Looking for an easier, more sustainable way to do things? Set your sights on process innovation. In this lesson, you'll learn more about companies who have innovated not only their field, but others, and what process innovation means.
4. Process Innovation Steps
In this lesson, you will briefly review what process innovation is and its high-level steps. In addition, you'll begin to understand why this four-step approach creates consistency and reduces risk associated with innovation.
5. Multichannel Retailing: Definition, Benefits & Challenges
This lesson will identify the benefits of multichannel retailing, such as customer loyalty and improved analytics. We will also look at challenges, such as information security and personnel time. Examples of multichannel retailing will be given.
6. What Are Collaboration Tools? - Definition & Types
This lesson will discuss collaboration tools, a broad term used for multiple types of software or services allowing people to work together online. Learn about how these technologies work and review examples of everyday usage.
7. What is Social Network Analysis?
This lesson provides an overview of Social Network Analysis or SNA. SNA provides a platform for obtaining critical insights of various population segments making up social networks.
8. Public Facing Innovation in Organizations
What if your best idea could be developed by a big-time company? With public-facing innovation, it's possible! In this lesson, you'll learn more about this innovation and discover several companies tackling it successfully.
9. Recognizing Opportunities for Social Innovation in Organizations
Social innovation can mean big business and big changes for corporations and societies. In this lesson, you'll learn more about recognizing opportunities for social innovation and how to motivate change.
10. People Oriented Innovation: Types & Examples
Investing in people is an innovative business approach that can reap rewards for both employees and companies. In this lesson, you'll learn more about people-oriented innovation and companies succeeding with the approach.
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Other chapters within the Business 328: Retail Innovation course
- Introduction to Retail Innovation
- Strategic Retail Perspectives
- Evaluating Retail Innovation
- Identifying Long-Term Trends in Retail
- Intrapreneurship in Retail Management
- Innovation & the Customer Experience
- Innovation through Greentailing
- Gaining a Competitive Retail Advantage
- Retail Innovation: Opportunities & Threats