Critical Evaluation of Continuous Improvement and Its Implementation in SMEs

Innovation And Kaizen

Innovation may be defined as a new function or improving the functionality of a product, process or service for a product that can respond to the market demand or generate a new demand from the market. It may also be defined as the activity that allows the apparition of innovation as a product and which is based on an individual, social, on a company, creative and dynamic behaviour.

Incremental innovation deals with processes of modification, simplification, refining, consolidation and improving of product or processes, the services and the activities of production and distribution already existing. On the other hand radical innovation implies the inserting new or services that are developing into a new business. It may result into creation of a new industry or can cause a major change in a whole industrial branch tending to new systems or values (Aurel Mihail Titu et al, 2015).