What Is Radical Innovation?
Radical innovation, concerned with
new technology, is
fundamentally different from incremental innovation that is concerned
with exploitation of existing technology.
vs. Red Ocean Strategy
❶ Breakthrough innovation delivers a
to a challenging problem.
creates a new big market niche.
❸ Game-changing innovation transforms the
market and the society.
3 Strategies of
Radical innovations help a company to
from the competition,
rapid growth, and create
high return on investment.
Radical innovation creates such a
dramatic change in processes, products, or services that they transform
existing markets or industries, or create new ones.
According to Harvard Business School,
"Radical innovation is a
process, or service with either unprecedented performance
features or familiar features that offer potential for
significant improvements in
performance and cost."
Radical Innovation Projects
produce an entirely new set of performance
produce improvements in known performance
features of five times or greater
produce a significant (30% or greater)
reduction in cost