A product innovation is the introduction of a good or service that is new or has significantly improved characteristics or intended uses; a process innovation refers to the implementation of a new or significantly improved production or delivery method. Evidence from firm innovation surveys suggests that the share of firms with a product or process innovation varies significantly across countries and that firms often adopt mixed modes of innovation, meaning that they combine product and process innovations.
Every company, in every industry, needs an innovation strategy — whether it be high-tech product innovation, packaging innovation, service innovation or process innovation. Now more than ever, innovation is key to growth, to acquiring and sustaining competitive advantage, and to building shareholder value for the long term. At the same time, the innovation process is fast becoming more open, and more global: Setting up shop in local or around the world, getting customers involved are now a vital part of any successful innovation effort. Developing a powerful innovation capability is no easy task, the advisors should have a knowhow of the market and about the USP of the product.
KAS business consultants provides an edge with its global experience knowhow and ability to manage innovative projects from conception to market stage.