1. What is InnovationInvention Invention is the basis of innovation But, it is not enough to just generate an idea: Sale or use distinguish innovation from invention. da Vinci’s helicopter Transrapid
1. What is InnovationInvention Invention is the basis of innovation But, further developments of existing solutions as well as for previously unknown solutions are also innovations Sea-Container improvement of existing and creation of new combinations of production factors Nespresso
1. What is InnovationInnovation An innovation deals normally with something „new”, a previously unknown solution. Postal service: Packstation (parcel-station) This novelty has to be noticed and become conscious. i-Phone
1. What is InnovationInnovation This combination has to prove its worth in the market or in-house (company). bofrost* frozen food delivery Opening up new markets and gaining access to the markets Walkman
1. What is InnovationInnovationsInnovation leads to a short period of monopoly and therefore to financial benefits (pioneer advantage)
1. What is InnovationRenewal Renewal It is about the exchange or replacement of products/services. For example, a new car model that has been launched into the market. Platform-strategy of Volkswagen scheduled further development of existing solutions Minicontainer
1. What is InnovationRenewals Renewal strengthens the existing structures and processes. Renewal needs open spaces for targeted improvements.
1. What is InnovationImpact of Renewal / Innovation 11 from: Kim / Mauborgne: der blaue Ozean, Hanser, p. 7