2) Radical Innovation
Radical Innovation (aka disruptive Innovation) occurs when a new strategy, product, service, or process is introduced to the market.
The difference between incremental and Radical is that it’s designed to make a significant impact by replacing an existing service, method, or technology. This type of innovation requires significant investment, time, and resources, in order to realize benefits.
Companies utilize incremental and radical innovation strategies. When a radical innovation is introduced to the market, to be successful, companies use incremental innovation from feedback to improve the product or service keep it competitive over time.