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Kinds of innovation

There are different kinds of innovation which generally happens in the organization and those are as follows:

1. Product innovation: innovation practices in products and services that are produced by the organization.

2. Process innovation: practices that are related to the system and process if the business such as new process applied according to time.

3. Incremental innovation: innovation that enhances and builds existing on existing products services and in existing processes.

4. Competence enhancing innovation: innovation practices in the existing knowledge and skills in the organization.

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