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4 Types of Innovation Explained

Invention refers to creating something entirely new like the airplane or lightbulb. Extension expands on existing products or services by applying them in new ways like changing a mobile phone's size or adding conditioner to shampoo. Duplication replicates existing ideas but with the entrepreneur's own improvements to beat competition, such as Marybrown replicating other restaurants. Synthesis combines multiple existing concepts into new applications, such as how the internet combined computers and telecommunications.

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45 views1 page

4 Types of Innovation Explained

Invention refers to creating something entirely new like the airplane or lightbulb. Extension expands on existing products or services by applying them in new ways like changing a mobile phone's size or adding conditioner to shampoo. Duplication replicates existing ideas but with the entrepreneur's own improvements to beat competition, such as Marybrown replicating other restaurants. Synthesis combines multiple existing concepts into new applications, such as how the internet combined computers and telecommunications.

Uploaded by

api-319197023
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Invention

Extension

The creation of a new product,


service or process which is
novel and untried. Ex:Wright
Brothers-Airplane, Thomas
Edison-lightbulb

The expansion of existing product,


service or process. Such concepts
make a different application of a
current [Link]: Mobilephone-Size,
function, colour: shampoo
Pantene new product with
conditioner

4 Types of Innovation

Duplication
The replication of an already existing
product, service and process. The
duplication effort is not simply
copying but adding the
entrepreneurs own creative touch to
enhance or improve the concept to
beat the competition. Existing
product becomes the reference. Eg:
Marrybrown

Synthesis
The combination of existing concepts
and factors into a new formulation.
Taking a numbers of ideas or items
already invented and finding a way to
form a new application. Eg:Internet
(computer & telecomunication system)

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