What is innovation? Various types of innovation? The process of innovation. Examples of successful and unsuccessful innovation. packaging innovation. Importance of innovation.

1. INNOVATION

2. What is INNOVATION ??? INNOVATION is
the action or
process of
inventing.
It includes
creating new
services, systems,
processes or
enhancing
existing ones.

3. Process of
INNOVATION
Idea generation and
mobilization
New ideas are created
in this step.
• Idea screening
It helps in refining the
idea.

4. Experimentation
In this stage ,ideas are
tested usually with
prototypes.
• Commercialization
• Commercialization aims at
creating market value .
Diffusion and implementation
Diffusion is the company-wide
acceptance of an innovative idea .

5. TYPES OF
INNOVATION
1. PRODUCT
INNOVATION:
A product
innovation is the
introduction of a
good or service
that is new or
significantly
improved with
respect to its
characteristics or
intended uses.

6. 2. PROCESS INNOVATION
A process innovation is the
implementation of new ,improved
production or delivery method. This
includes significant changes in
techniques, equipment and/or software.

7. 3. BUSINESS MODEL
INNOVATION
Unlike other types of
innovation, changes to the
business model require
changes to the
foundational decisions
upon which the business
operates.
Changing the business
model design brings much
higher risk due to the
potential for disruption to
the current business.

8. Innovative tactics

9. Packaging Innovation

11. Successful Innovations

12. WhatsApp encryption
Elari Nano phone
Fool proof infant seat
BSX LVL Wearable Hydration Monitor

14. Unsuccessful innovations

15. Why INNOVATION is required ?
1. Problem solving
2. Adapting to unpredictable events
3. Increasing competition
4. Increasing globalization
5. Advancing technology
6. Changing how we work

16. Thank you
Gembali Gouri Ganesh Patro
Kirtee Mishra
Lipsa Mohapatra
Rosalin Mohanty
Abiram Biplab Nath