Glossary#
- Desirability#
About creating a user-centered experience, and identifying what your customers really want.
- Disruptive Innovation#
Describes a process where a new, simpler, or more affordable technology and business model takes root at the bottom of a market and eventually displaces established industry leaders.
Technology or new business model that disrupts the existing market.
- Feasibility#
Focuses entirely on the technical capability to build, scale, and maintain disruptive technology.
- Incremental Innovation#
Gradual, continuous improvements on existing products and services.
- Information Systems (IS) Innovations#
Focuses on leveraging modern digital tools and computational theories to solve complex business problems, create operational efficiencies, and drive strategic growth.
- PESTEL Framework#
A framework or tool used by marketers to analyze and monitor the macro-environmental (external marketing environment) factors that have an impact on an organization, company, or industry. It examines the Political, Economic, Social, Technological, Environmental, and Legal factors in the external environment.
- Radical Innovation#
Technological breakthrough that transforms industries, often creates a new market.
- Sustaining Innovation#
A significant improvement on a product that aims to sustain the position in an existing market.
- Viability#
Requires you to focus on the value chain in terms of what customers expect from services of your business, looking at both profitability and sustainability to achieve optimal results.
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