other end of the innovation spectrum is radical innovation. This type of
innovation is disruptive and new, involving risk-taking that results in
revolutionary products or technologies, hence the greater risk it carries,
additionally creating new markets. Radical innovation can effectively be
expressed by “blue ocean strategy” titled by Kim and Mauborgne. Blue ocean
strategy involves not fighting competition but circumventing it. Rather than
fighting for market share a company steps aside and simply creates its own
market (Kim W. C., Mauborgne, R., 2005).
Some companies don’t just innovate
their products and services, they take it a step farther and fully innovate
business models within an industry.