1.

How does the future of innovation look like, especially considering Covid-19
impact?
There is a huge pivot in how the innovation process occurs as a pandemic takes
place. It accelerated previously established trends such as increasing public access to
scientific publications, expanding the use of digital technologies, improving international
collaboration in the fields of science, technology, and innovation, and encouraging a
variety of public-private partnerships.
Accordingly, institutions will move in different ways considering the kind of
industry they serve. Wherein those organizations that are highly dependent on others in
the creation of products and services may explore creating and/or adopting new
technologies through minimizing human and physical interdependence in their
fundamental technology, as well as the cost of the COVID-19 virus to human health and
life.
In that manner, people will consider investing in or capitalizing on opportunity-
driven innovations such as environmental needs and opportunities. The pandemic had a
significant impact on everyone's perceptions of how to deal with such a situation,
particularly innovators. Hence, it might be, when faced with a high level of demand and a
pressing need during this time, that enterprises who can make the necessary resource
investments and implement proactive product and process innovations are better
prepared to take advantage of the opportunity. Thus, opportunity and innovation
somehow go hand in hand.

2. How do you define innovation?

Innovation is not simply changing or replacing something new, instead, it must
also create value. This is a kind of process by which the creation and implementation of
new ideas, technologies, products, and services takes place that will generate turnover
and profit. It comes out from the inevitable changes and challenges in this world that we
tend to face; it might be a market or a global challenge. Thus, innovation is connecting
the new problems to new solutions.

3. What are different types of innovation?

 The different types of innovations are architectural, incremental, radical, and
disruptive. Architectural innovation is the process of modifying the overall design of a
product by combining existing components in novel ways. Subsequently, incremental
innovation is the recurring enhancement of existing products or services in order to
deliver additional value to a current market. With characteristics like product line
extensions, cost reductions, and next-generation goods, it aims to eliminate faults and
progressively enhance performance. Furthermore, with close customer interaction,
Hence, radical innovation is when a new product, technique, or service with significant
technical improvement has a large market impact and totally replaces an old offering.
This is an example of high-tech innovation in which long-term innovation takes place.
Lastly, disruptive innovation is when an invention develops a fundamentally new value
network. This is referred to as creating a fundamentally new value network. This may be
accomplished by either creating a new market or joining an existing market and altering
the way customers engage with it.

4. How do I spot opportunities for innovation?

Spotting an opportunity for innovation requires a certain process to occur.
Initially, you have to be observant of the inevitable changes that are occurring in this
world. And then, you've got to learn from the potential problems. You will have a higher
chance of avoiding an issue if you have a concept of how to address it before it
happens. Afterward, you share your forecasts with other stakeholders so that everyone
is on the same page about future developments. This will instill confidence and
empowerment throughout the organization. Additionally, you have to differentiate the
predictions for those certain ideas and look at them with intent, figuring out which ones
are likely to occur and which ones may occur. Lastly, examine how changes are
occurring and utilize that knowledge to capitalize on existing possibilities while also
developing new ones.

5. Which customers should I target?

In making innovations, the customers you should target are those who have a
significant number of customers in the market that will have an impact on your inputs.
Creating something new with value is what this process makes sense for, so as an
innovator, we have to focus on those who represent the majority. We have to uncover
 and implement their preferences, habits, and buying demeanor throughout all stages of
the development phase of a product.

6. What should I look for?

As an innovator, it is crucial to look for ideas to innovate and see how you can
implement them in the process. There are a lot of things that must be sought, but to spot
those things, you must first consider the prior scheme mentioned to push through and
exploit the idea.

7. How should I look?

You can look for the ideas and resources as an initial approach to innovation
through intent observation in the marketplace. You have to analyze and understand how
the marketplace is changing. Thus, having that kind of awareness will help exploit the
ideas that you established.

8. How do I come up with an idea?

As an entrepreneur and innovator, it's a good idea to start by exploring solutions to
meet requirements and address difficulties. You can come up with an innovative idea in
business through seeking and asking questions, just like if you want to improve an
existing product, you might ask: is there an easier way to make this thing convenient for
the consumer? Is it possible for me to make this more accessible? What can I do to
improve this? These might be building blocks for you to generate ideas that might have a
big impact in the future.

9. What is disruptive innovation?

Disruptive Innovation refers to the process through which a product or service
first establishes itself in basic applications at the bottom of a market (usually by being
less priced and more accessible) and then persistently goes upwards, eventually
replacing established competitors. As a result, the enterprises with the most profitable
initiatives are hesitant to compete with the startup for that market share. They will then
improve its items and advancements, so boosting its profitability.
10. What is the best way to disrupt a market?
There are several methods for disrupting a market, the most effective of which
is to first provide something completely new. You must develop a solution that gives
them something they didn't have before, or you must supply a service or product to an
underserved customer segment. So think about what society demands. What do
buyers want but can't seem to find? Then, go over your list and search for any ideas
that appear to offer something new to clients. Another is to place more value on
creativity and invention above "best practices." You must conduct market research in
ways that established institutions cannot or will not do. And give yourself permission to
develop and adapt to the circumstances. Finally, make use of technology and data.
Technology and data are rampant in today's period. As a result, these may be a huge
help no matter what industry you try to disrupt or how you try to disrupt it. Technology
not only impacts organizations but also changes how customers act in many parts of
their lives. If you observe the market and determine where there is the most interest in
new technology, you can generally forecast which industries are most strategically
significant.