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How It Differs from Other Types of Innovation Oftentimes, breakthrough innovation is used interchangeably with radical and disruptive innovation. Radicalinnovation involves entirely new technologies or concepts that lay the foundation for future industries. However, there are some important differences.
This article explores what value innovation is, how it fits within blue ocean strategy, and real-world examples of how companies apply it. Well also break down the steps to implementing value innovation and examine how ideamanagement and technology scouting can accelerate its success. What is Value Innovation?
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We recently caught up with Juan Fernando Correa, the Projects Analyst at Hochschild who is responsible for leading the company’s crowdsourcing initiatives. He tells us all about how his company gathers ideas using the Qmarkets platform and the process by which they decided to use it.
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While some innovations introduce groundbreaking technologies or incremental improvements, disruptive innovation stands apart by transforming markets and displacing established players in unexpected ways. These collaborations reduce the time and risk associated with innovation.
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