Posts Tagged ‘innovation’

Management Consulting

Management Consulting

Management consulting generally deals with helping organizations, companies or firms to improve their performance, both internally and externally; it can take many forms and deal with various aspects of a company, depending also on the field of activity of said company.

Definition of Management

Definition of Management

The simplest definition of management is that it is a practice dealing with the organization, the coordination or the directing of an organization’s resources so that it reaches its goals in an effective and efficient manner.

Types of Innovation

Types of Innovation

There are two main types of innovation: sustaining innovation which expands on an existing market by developing in evolutionary or revolutionary ways certain products or services, and disruptive innovation which creates a whole new market and an entirely new product or technology, thus being free of competition for a while.

Disruptive Innovation

Disruptive Innovation

Disruptive innovation, initially known as disruptive technology, refers to innovations in a certain field that create new markets and new consumers, or that through innovation make older technologies become obsolete; this is contrary to sustaining innovation, which develops and evolves existing markets.

August 2017
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