(Innovation as a Core Competency cont. 2)

Main types of innovation

There are 2 types

    i) products and services like vaccines, iPhones, electric cars, etc

   ii) business innovations like new processes, new service delivery methods, business models, platforms, etc. An example of new service delivery is Woolworths supermarkets which has developed a partnership delivery model of grocery home deliveries; in addition to their own drivers, they use cab drivers, partnered courier companies like DHL; another example of a business model innovation is Nepresso that has developed their own coffee machines and have designed a patented coffee pod for exclusive use in their machines - this means they retain control over the product (the pod) and machines