Transformational innovation is a term used to describe value for all four levels at the same time. But value has a different meaning at these different levels, and it is important to have a good understanding of what these levels are, and what value means at these different levels. Although the concept of the levels is more general and could be applied for various purposes. There are three ways or strategies to follow regarding the transformational innovation diagram, the higher a company aims to be in the front of innovation – means also the calculated risk is higher. Innovation demands to spend a high percentage on R&D department. Many factors depend on having success and maybe the most important issue is how to manage and find a dynamic team of workers across different industries and education. See added value in the Eco dictionary.
Transformational innovation three ways
- Developing breakthroughs and inventing things for markets that don’t yet exist
- Expanding from existing business into “new to the company “ business
- Optimizing existing products for existing customers (markets)
ECO-FASHION-DENIM AND DIAGRAMS DICTIONARIES OVERVIEW