10 Types of Innovation #infographic

10 Types of Innovation
It's true that any company will be out there competing for market share, but you don't really want to be in a situation where competition is so strong that every future profit is being lost in the process — a scenario known as ideal competition in economics.

In order to escape perfect competition, businesses must aim to create an economic moat that gives them a sustainable competitive advantage over time. While these protective fountains may arise from a number of different sources, they are most often derived from the power of innovation in today's information economy.

10 Types of Innovation #infographic

Source: www.visualcapitalist.com

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