Which type of innovation is most likely to create entirely new markets andbusiness models?*1 pointIncremental InnovationArchitectural InnovationDisruptive InnovationRadical Innovation
Question
Which type of innovation is most likely to create entirely new markets andbusiness models?*1 pointIncremental InnovationArchitectural InnovationDisruptive InnovationRadical Innovation
Solution
The type of innovation most likely to create entirely new markets and business models is Disruptive Innovation.
Here's why:
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Incremental Innovation: This type of innovation involves making small improvements to existing products, services, or processes. While it can lead to increased efficiency and customer satisfaction, it's unlikely to create entirely new markets or business models.
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Architectural Innovation: This involves changing the way existing technologies or components are combined. It can lead to the creation of new products or services, but these are usually in existing markets.
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Disruptive Innovation: This type of innovation creates new markets and value networks, and eventually disrupts existing ones. Disruptive innovations are often produced by outsiders and entrepreneurs, rather than existing market-leading companies.
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Radical Innovation: This involves creating new technology for products or processes that did not exist before. While it can lead to the creation of new markets, it's not as likely to create new business models as disruptive innovation.
So, Disruptive Innovation is the most likely to create entirely new markets and business models.
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