Innovation is the key driver for sustenance and prosperity of start-ups or conglomerates or governments trying to maximise their service delivery, or institutions excelling in research and academics. Innovation is the process for measurable value-enhancement in any activity. The process can be a breakthrough or disruptive one, ushering in game changing business practices. It could also be incremental or iterative one, resulting from continuous improvements for better customer satisfaction and market share. Disruptive innovation brings something ‘new to the world’ and hence it is associated with higher business risk. On the other hand, incremental innovation introduces something ‘new to the market’ and thus it is fraught with less risk.
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