This document discusses different types and aspects of innovation including incremental vs radical innovation, sustaining vs disruptive innovation, innovation strategies, and the four dimensions of innovation space. It provides examples of how the MP3 file and technology disrupted the music industry and print publishing. Innovation can range from minor improvements to existing processes to completely new paradigm-shifting ideas that create new markets and business models.

1. MBA 6103
Managing Innovation
Unit 1
What is Innovation?

2. • The Growth Imperative
• Process Improvement and Efficiency
• Creating Sustainable Competitive Advantage
• Incremental vs. Radical Innovation
• Sustaining vs. Disruptive Innovation
• Creating New Market Space
• Crafting an Innovation Strategy

3. • Technology and the MP3 File
• A Platform for Delivery
• Hardware for the Consumer
• Recipe for Disruption
• Parallels to Print Publishing

4. • Exploits Existing Processes or Technologies
• Improves or Reconfigures Something Already in Existence
• “Innovation at the Margins”
• Serves to Extend the Product Life Cycle
• Might be Represented in the Form of an Upgrade or Process/Service Improvement

6. • Something New
• A Divergence from the Norm
• Has Potential to Upset Existing Business Models
• Can Create New Market Space
• Can Eliminate Existing Forms of Competition

7. • Four Dimensions of Innovation Space
• Product Innovation
• Process Innovation
• Position Innovation
• Paradigm Innovation
• Can Eliminate Existing Forms of Competition