Due to the fact that innovation is a complex and multifaceted phenomenon, different researchers have different approaches to understanding and defining this category. For this reason, there is a fairly large number of different classifications of types of innovations in the scientific literature. Below are just a few of them.
So, Geoffrey Moore distinguishes the following types of innovations:
- Product innovation is understood as the introduction of a product or service that is new or significantly improved in terms of their properties or uses;
- Process innovation is seen as the introduction and use of a new or significantly improved method of manufacturing or delivering a product to a consumer;
- Marketing innovation is the introduction of a new effective marketing method, which involves significant changes in the design or packaging of goods, storage, transportation, promotion to the market, setting the sale price, etc.;
- Organizational innovation is considered as the introduction of a new organizational method in the activities of a firm or enterprise, in the organization of jobs or external relations.
According to another classification, innovations are divided into product-oriented (the result is a specific product) and process-oriented (the result is new processes or technologies leading to the production of new products).
Another type of innovation can is “dynamically continuous innovation. As you know, one of the significant drawbacks of innovations is that in the process of irs practical implementation, they can lose their relevance because during this time, there are many new ideas in the same area of knowledge, which in fact can be improvements of the developed innovation. The concept of dynamically continuous innovation implies such characteristics of the innovation process that would allow them to be refined and optimized during their implementation.
A number of authors propose to divide innovations according to the principle and environment of their occurrence into exogenous and endogenous. Exogenous innovation occurs as a result of changes in the market, requiring the emergence of new technologies and ideas. In general, they appear in response to increased demand or as a way to remove barriers to market development in a particular area. The main purpose of the emergence of exogenous innovations is to establish a balance in a particular area of human activity.
The types of innovations, in addition to those described above, were distinguished by a number of researchers and additional types. So, Clement Mok proposed to consider a special type of innovation – preventive – ideas or solutions that are produced in order to avoid certain consequences or events in the future.
Another type of innovation is social innovation, which, according to a number of authors, in general, can have the following three meanings.
The first is related to the satisfaction of unsatisfied social needs. Such innovations are aimed at:
- reducing the level of poverty;
- protecting the interests of the most vulnerable strata of society;
- increasing the level of security of citizens;
- removal of social tension;
- improving the quality of life;
- achievement of local social goals characteristic of certain areas, regions and territories, etc.
The second meaning is associated with innovations in the field of interaction between the individual and the group, as well as between groups of different sizes with very different socio-psychological and structural characteristics.
The third meaning is associated with the creation of conditions for equal access to funds and resources for almost all members of society.
Types of management
- Innovation management;
- Production management;
- Financial management;
- International management;
- Environmental management;
- Marketing management;
- Personal management.
Types of business strategies
- Strategy of concentrated growth. This strategy provides for strengthening the company’s position in the market. Within the framework of this direction of development, the manufactured product can be improved or something new can be created that is more in demand by customers;
- Strategy for integrated growth. Business strategies of this type are implemented by expanding the business structure, opening new divisions. A company can develop from within, or it can buy other companies that are engaged in related activities. Thus, you can reduce business costs and get additional profits where investments were previously required;
- Strategy for diversification growth. With this strategy, the company seeks to go beyond its own influence. For example, it expands the assortment with goods or services that are not related to the current line of offers. Another variant of the strategy of a small business of this type is the search for new types of activity without reference to the existing ones;
- Reduction strategy. Sometimes, to take a step forward, you need to take two steps backward. In an unstable market situation, the company’s management can choose the business strategy of the organization, which implies the closure of a business or part of it, a sharp decrease in costs or obtaining maximum benefits in a short time with the subsequent liquidation of the company.
Types of decision making
- Standard decisions imply an unambiguous choice, however, it is not the only and unconditionally correct one;
- Multiple decisions involve many solutions and are quite rare, as they require very thorough analytical preparation. The most common alternative solution is the result of using the scripting method;
- Innovative decisions involve a choice in the absence of obvious and understandable alternatives when the decision-maker switches between rational and creative thinking.