Innovation Strategy › Defining innovation
Defining innovation
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Innovation goes far beyond R&D It goes far beyond the confines of research labs to users, suppliers and consumers everywhere – in government, business and non-profit organisations, across borders, across sectors, and across institutions |
The Oslo Manual for measuring innovation defines four types of innovation: product innovation, process innovation, marketing innovation and organisational innovation.
- Product innovation: A good or service that is new or significantly improved. This includes significant improvements in technical specifications, components and materials, software in the product, user friendliness or other functional characteristics.
- Process innovation: A new or significantly improved production or delivery method. This includes significant changes in techniques, equipment and/or software.
- Marketing innovation: A new marketing method involving significant changes in product design or packaging, product placement, product promotion or pricing.
- Organisational innovation: A new organisational method in business practices, workplace organisation or external relations.
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