Innovation involves creating new products, processes, or services to improve efficiency and gain competitive advantages. Successful innovators are passionate, persistent, optimistic, and protect their ideas. Innovation is important for economic growth and solving problems. While people fear failure, failing is part of learning and progress. There are four types of innovation - incremental, disruptive, architectural, and radical - that help companies innovate. Innovation positively impacts both society through technological advancement and well-being, and organizations through competitive advantages and increased productivity.

1. INNOVATION...!

2. WHAT IS INNOVATION????
• Innovation is the creation, development and implementation of a new product,
process or service, with the aim of improving efficiency, effectiveness or
competitive advantage.
• Companies who pursue innovation are likely to survive longer and provide higher
returns to shareholders
• innovation has made a lot of changes
• When an organization doesn’t make any progress, it cannot stay competitive in
the market.

3. WHO IS AN INNOVATOR ???
Successful innovators have the following qualities
, Passionate about inventing.
• Persistent.
• Optimistic.
• Keep their ideas to themselves.
• Understand how to use intellectual property to protect their ideas.
• Highly confident

4. WHY DOES INNOVATION MATTERS???
• Innovation is the core reason for our modern existence
• innovation can have some adverse significances, change is inevitable and in
most cases, innovation creates positive change
• Being innovative also plays an important role in economic growth.
• The ability to resolve critical problems depends on new innovations
• innovation creates positive change

5. BARRIERS AND SOLUTION FOR INNOVATION
• People love innovation but afraid to start up something new because of the
most asked question ‘what if it fails?.
• There are no guarantees that any new idea will work but, as a fact everybody
should understand that failing is an important part of learning development
and progress. The barriers are as follows .
1. Operational
2. Failiing to attract enough customers
3. Fear

6. INNOVATION MATRIX
• These types helps to illustrate the various ways that companies can innovate.
• There are four different types of innovation and they are
1. Incremental
2. Disruptive
3. Architectural
4. Radical

7. Incremental Innovation
• It utilizes your existing technology and increases the value to the customer
• Incremental Innovation is the most common form of innovation.
• Continous improvement on Existing products and services

8. Distruptive innovation
• Disruptive innovation, also known as stealth innovation
• involves applying new technology or processes to your company’s current
market
• This newer technology is often more expensive, has fewer features, is harder
to use, and is not as aesthetically pleasing.

9. Architectural innovation
• Architectural innovation is simply taking the lessons, skills and overall
technology and applying them within a different market.
• This innovation is amazing at increasing new customers as long as the new
market is receptive.
• risk involved in architectural innovation is low due to the reliance and
reintroduction of proven technology.

10. Radical innovation
• Radical innovation is what we think of mostly when considering innovation
• It gives birth to new industries or swallows existing ones
• involves creating revolutionary technology

11. SOCIETY VS ORGANIZATION
• Impact on innovation in society
The innovation always has a positive impact on the society.
•Technological advancement
•Increase well-being
•Economic growth
•Environmental sustainability
•Communication and educational accessibility

12. SOCIETY VS ORGANIZATION
• The impact of innovation in organization
•Competitive advantage
•Maximize ROI
•Increased productivity
•Positive impact on company culture