Name: Tolentino, Miguel Brian B.

BAENT-1B

Product and Process Innovation

Product innovation refers to the creation and introduction of a good or service
that is new to the market or an improved version of a previous product. On the other
hand, process innovation is implementing a new or improved production or delivery
method.

● McDonald’s
● Toyota
● Ford

Open and Closed Innovation

The distinction between open innovation and closed innovation is determined
by the way in which innovation is created. While a closed innovation is developed in
a self-contained company environment, Open Innovation incorporates external
knowledge into innovation management.

● Lego
● Samsung
● Nokia
● Facebook

Incremental and Radical Innovation

Radical innovation involves significant improvements in products and services
and the provision of new products and services (Nguyen, 2018). Incremental
innovation involves slight changes in technology and some new value or
differentiation in current products, services and technology (Okuyama, 2017).

● Coca-Cola
● Spotify
● Netflix
●

Modular and Architectural Innovation

Modular innovations alter the fundamental design concept without altering the
product architecture. While architectural innovations alter the connecting
components of the product and thus the architecture, modular innovations do not
change the architecture but they alter the entire concept on which the product is
built, without changing the purpose of the product itself.

● iPad
● Tesla
● 3D Smartphones
● Desktop Photocopies