Ten Types of Innovation

Doblin, an innovation strategy firm based in Chicago, has a list (www.doblin.com) of what they deem to be the Ten Types of Innovation.

I like this list because they include process and delivery as innovation categories. I think too often the term innovation is heavily associated with products and technologies. However, companies don’t need to be designing and or producing cutting edge products to be innovative. A company’s competitive advantage can come through innovations in the less glamorous world of operations and logistics. Wal-Mart is an example of this. They have innovated in the area of inventory management. This has allowed them to place the correct products in the stores, at the right time, for the least amount of cost.