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 					  There are different types of innovation, including: #flashcard
-						- Radical innovation: involves creating something entirely new that disrupts existing markets or creates new ones.
-						- Disruptive innovation: involves creating a new product or service that initially serves a niche market but eventually disrupts the existing market.
-						- Incremental innovation: involves making small improvements to existing products or processes.
-						- Sustaining innovation: involves making improvements to existing products or processes that help maintain a company's competitive position.
+						- Product InnovationThe development of a new or improved product
+						  Process innovationThe development of a new manufacturing
+						  process
+						- Organisational innovationA new venture division, a new internal
+						  communication system, introduction of a new
+						  accounting procedure
+						- Management innovationTQM (Total Quality Management) systems. BPR
+						  (business process re-engineering)
+						- Production innovationQuality circles, just-in-time (JIT) manufacturing
+						  system, new production planning software
+						- Commercial/marketing innovation New financing arrangements, new sales
+						  approach e.g. direct marketing, e-commerce
+						  Service innovation Telephone financial services or on-line services
+						  e.g. customer support
 					- ### Models of Innovation
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