Advantages Of Incremental Innovation

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Creating a new idea or making a change in product or services is called innovation. Companies can innovate through two different categories, whether incremental innovation or radical innovation. Incremental innovations are when adding a few features to the existing product or upgrade it. While radical innovations are creation new product or features totally different. However both ways have advantages and disadvantages. Most of the organizations tend to use incremental innovation because the product already exists and it’s easier to add new characteristic with less time. Some of advantages for incremental innovation are staying competitive. The continuation of competition depends on the developing of the product which results from innovation. So product must innovate to keep on. Another

But some organizations like to use it because it leads them to be in a bigger win which is the essential advantage of radical. Another advantage is when creating new product special and differ from others can help to have chance to gain monopoly. For example the Pebble smart watch make a completely new category of consumer (Kickstarter, 2012).This technology was created before apple has begun. Farther more, from this category you can’t see the result directly because it takes a lot of time and years. For Stefan Lindegaard, Radical innovation needs to be safer by the companies since it’s so difficult. In addition it’s too risky and may be not successful if the mangers don’t understand the game.

Both categories of innovation have advantages and disadvantages. It depends on the quality of the product and how to play it in the safer way. The innovation range that makes sense is between incremental and radical. Incremental way is easier but it’s not easy because there are a lot of competitors. In which radical are too risky but can lead to monopoly if it’s done in a smart way.