What does innovation mean?

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Innovation literally means renewal. That doesn’t mean it’s necessarily inventing something new or discovering new things, but more than this! When you are improving a certain service or product, in the middle of the process, you are already innovating.

 

When are you innovative?

When an idea is successful in the market, we call it an innovation. Something is innovations and not necessarily something new. The idea has to be designed in such a way that it aligns with what we humans want to buy, what influences us or aligns with our behavior. Below we explain a number of ways of innovation:

  • Product innovation: You are developing a new product or are going to renew an existing product;
  • Service innovation: You adapt or improve your services as an organization;
  • Technological innovation: Making use of new technology, resulting in new processes being created;
  • Market innovation: You focus on a target group and can start a new segment.

 

Why is innovation important?

Keep innovating as a company. This is important, so that you stay informed of the latest trends and so that you can follow developments. The market is constantly changing and therefore innovation is needed. Innovation is not only good for customer needs, but also for competitors. Suppose your competitor innovates and you do not move along, then you send your customers to the competitors, so that they can purchase the relevant product there.

 

Innovate with STUDIO.WHY

We help organizations to innovate. Our goal is to deliver concrete solutions, so that growth is achieved. Do you have questions about innovation? Please contact us using the form below. You can also participate in our free webinarsfree email course or training courses.

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