It is recognized as a source of growth and competitiveness. The Oslo Manual distinguishes between four types of
innovation. Product
Innovation: Introduction of a new product. This definition includes significant improvements to technical conditions, components or materials, embedded software, user-friendliness, or other functional characteristics. Process
Innovation: Establishing a new production or distribution method, or significantly improving an existing one. This notion involves significant changes in techniques, material and/or software. Marketing
Innovations: Establishing a new marketing method requiring substantial changes in a product’s design, conditioning, placement, promotion, or pricing. Organizational
Innovation: Establishing a new organizational process in practices, workplace organization, or company public relations.
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