The 10 Types of Innovation

What is innovation? Innovation is defined as the process of creating original ideas that generate value, socially or economically, in a sustainable way. But there are many types of innovation and above all you can innovate in different places and activities.

Larry Keeley, an expert at the Bankinter Innovation Foundation and President and Co-founder of Doblin Inc., is an innovation strategist who has dedicated his entire professional career to developing effective innovation methods, he summarizes what innovation is in “10 Types of Innovation“.

In his book “10 Types of Innovation” he describes the different types of innovation that can be found in a project or company and how they must be combined to make innovation effective.

According to Larry Keeley, the different kinds of innovation that exist are structured into three categories:

Innovation in the Structure. This category brings together innovations related to the structure and configuration of the business, organization or company. They can be innovations related to:

• Business model
• Network, networks and relationships of the organization
• Organizational structure
• Management processes

Innovation in the Supply. This category focuses on the products and services offered by the company and innovations that are related to:

• Functionalities of those products or services
• Systems of products or services

Innovation in Experience. This section includes innovations related to the organization’s customer and consumer interaction systems. It brings together the innovation generated:

• In the service provided by the organization
• In the customer or consumer interaction channels
• Around the mark
• In the relationship with the customer.

This categorization seeks to create a systematic process to combine the various types of innovation and thus be able to create an efficient innovation system that modifies and improves the company by creating value.