Hi. Welcome back to the Idencia Innovation Vlog Series. I’m Jillian. And this week we’re going to be talking about different types of innovation.
There are four main types of innovation which you can view in the table on the side. These types of innovation have two main factors, the first being the market and whether or not you’re innovating into a new market, and the second being the idea, product, or service.
Now to make these sound a little bit more concrete in your head and maybe get a better idea of what I’m talking about, let’s give some examples of innovation using the precast industry.
Architectural innovation would be bringing the same kinds of precast concrete that are already being created and bringing them to the residential market to make single family homes.
If we’re talking about disruptive innovation or bringing a new product into an existing market, we can look at how concrete has textures like wood, stone, and other things that are conventional building materials, but that concrete can actually take their place, in many cases, disrupting the existing market.
Now, when I think of innovation, I think of radical innovation. This is where you bring a new product to a new market and you're truly developing something unique that no one has seen before. A great example of radical innovation is taking the newer idea of being more environmentally friendly and recycling carbon dioxide and adding that to make a new concrete product that’s even stronger than the traditional materials. Both changing the market and the idea that’s being presented.
All these kinds of innovation can seem intimidating, difficult to achieve, and maybe even unrealistic. So that’s why I’d like to talk to you about incremental innovation. This is where you stick with the market you’re familiar with and you keep your same products and services, but you grow and expand upon those. These examples are fantastic but not all of us can brag about such a big innovation.
At Idencia, we change our software module by module to better accommodate the precasters we’re serving. And you, at your precast plant, will change, alter and add on processes to make your plant run smoother.
What’s another example of how you innovate?