By Michell Léon
As mentioned before, most innovation takes place on the so-called incremental level. Meaning, iterations of existing solutions, which make them slightly better. Your latest smartphone, whatever the brand, is a good example of it.
It's the easiest and cheapest kind of innovation, and the rule of thumb is that it takes place once or twice a year if you are an innovation focused company. If you are not, it doesn't take place at all, of course.
Then once in a while, we see disruptive innovation, which is creating a new value system in an existing market. Tesla's electric car is a good example of that. It redefines the way we use cars based on the value of sustainability.
It's a much harder and more expensive kind of innovation, and the rule of thumb is that even an innovative company can only create disruptive innovations every fourth year at best.
There is also something called radical innovation, which is much rarer. It grows out of the invention of new technologies. Historically, we have seen it in inventions like the steam engine, electricity, and the personal computer.
Radical innovation doesn't just disrupt existing markets. It creates entirely new ones by solving global problems. It uproots existing industries with the purpose of transforming them into something never seen before.
When a radical innovation comes along, you can talk about life before and after it. The latest example in human history is the internet. It completely changed the world and our human presence in it.