Innovation is the management of all activities involved in the process of generating ideas, technological development, producing and marketing a new (or improved) product or process or production equipment. There are different types of innovation. First, radical innovation and incremental innovation where a research draws the distinction between radical and incremental innovations (Abrunhosa and E Sa, 2008; Lin and Chen, 2007; Prajogo and Sohal, 2003, Forsman and Temel, 2011). Radical innovation represents a completely new and different offering through which companies aim to create new markets (Garcia and Calantone, 2002). Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an original essay Radical innovation has been considered a risky action as it requires time, financial resources and expensive knowledge (Cainelli et al., 2006 in Forsman and Temel, 2011). While incremental innovation includes adding elements of the service, product or process. In other words, incremental innovations represent a minor improvement in existing products, services and processes through which the organization often pursues process improvement, makes operations more effective, improves quality and decreases costs (Sewar and Dutton , 1986 in Forsman and Temel, 2011 ). These additions improve the organization's effectiveness for its goal, at the same time maximizing customer satisfaction resulting from these improvements. Second, technology and marketing innovations. Technological innovation related to new products, processes or services, while marketing innovation involves a change in the social structure of the organization (Rosenbusch, 2011; Damanpour et al, 2009; Auken et al, 2008; Bon and Mustafa, 2013 ). Technological innovation refers to any type of innovation structure from a technical point of view and which is at the heart of operations; such innovations influence the operational flow of the product or process (Damanpour, 2009). While marketing innovation refers to the implementation of new ideas that improve organizational processes, routines, structures or systems (Elenkov et al, 2005 in Bon and Mustafa, 2013), marketing innovation is associated with processes internals that support the provision of a service or product. For example, implementing a new marketing method that involves significant changes in product design or packaging, product positioning, product promotion, or pricing. Furthermore, marketing strategy is usually related to pricing strategy to penetrate a new market or attract new customers. Third: product and process innovation. Product and process innovations are closely linked to the concept of technological development. Product innovation reflects a change in the final product or services, while process innovation represents a change in the way a company produces products and services (Dibrell et al, 2008 in Forsman and Temel, 2011). Product innovation aims to introduce a new or improved product or service to customers, and customers see the impact of that innovation in the products or services they receive, while process innovations change or improve the way organizations operate . Please note: this is just a sample. Get a custom paper from our expert writers now. Get a Custom Essay Gobeli and Brown (1993) state that the product innovation process contains four basic phases: discovery, decision, development, and delivery. For example, the discovery phase begins with research and identification of innovative potentials and the.