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30 January 2023

What is Innovation?

Written by Civan Güneş, Kerem Akdağ, Posted in Work Life

What is Innovation?

Innovation can be defined as a creative thought or solution. This concept refers to changes and improvements that aim to make a product or service better. For example, a new method can be developed to increase the performance of a product or service, and this development is called innovation.

The Importance of Innovation

Innovation is a very important concept for an organization. Through innovation, organizations can generate creative ideas and turn them into reality. In this way, they can gain a competitive advantage and expand their market shares. In addition, through innovation, organizations can continually improve themselves and become open to new ideas. This helps them to be more efficient and effective as an organization.

Companies have various options to increase their competitive strength. They can strive for price leadership or follow a differentiation strategy. In both cases, innovation is crucial.

  • Companies that focus on price leadership must secure their long-term competitiveness by developing innovative, highly efficient processes. Process optimization and continuous improvement in terms of costs are important for them.
  • Companies focused on differentiation strategy need innovation to add or distinctive features to the products or services of their competitors.

What Are the Types of Innovation?

Innovation refers to the creation and development of new ideas, methods, or products that add value to society. The types of innovation can be classified based on their scope and impact, such as:

Incremental Innovation

Incremental innovation refers to the addition of new features without undergoing a major change in a product, brand, or production methods. It also means continuously improving existing products or services to provide more value to an existing market.

innovation

Incremental innovation focuses on expanding product lines, reducing costs, and gradually improving performance by reducing defects and improving features such as next-generation products. These types of innovations are realized in the short term and have a lower market impact compared to other types of innovation. An example of innovation can be the development of smartphones. In the past, phones were primarily used for making calls and sending text messages. With the advancement of technology, smartphones became increasingly sophisticated with the ability to browse the internet, offer mobile payment options, and run complex applications. This increased innovation not only made phones more convenient for users, but also created new industries and job opportunities in fields such as app development and mobile device design.

Disruptive Innovation

Disruptive innovation is a term used to describe a new technology or business model that significantly changes the way an industry operates. This type of innovation typically starts at a lower level compared to existing technologies or models, but eventually evolves and becomes widely adopted by invalidating traditional technologies or business models. Disruptive innovation can have a large impact on industries and can create new opportunities for growth and development. An example of disruptive innovation is the development of e-commerce sites and the beginning of the concept of online shopping by changing the perception of shopping to a large extent.

Radical Innovation

Radical innovation refers to the creation of a new product or service that significantly changes the way things are done and offers a significant jump in performance or capability. This type of innovation often requires significant time, money, and resource investment for existing markets and industries. Radical innovation can lead to the creation of new markets and the emergence of entirely new industries, and it can have a major impact on society and the economy. Examples of radical innovation include the development of the internet, the creation of personal computers, and the emergence of smart phones.

Adjacent Innovation

Adjacent innovation refers to identifying growth and expansion opportunities within a company's existing field or market rather than entering completely new areas. This type of innovation reflects a company's ability to identify and leverage its current resources, capabilities, and expertise. Adjacent innovation can be an effective way for companies to remain competitive and stay ahead of the times by allowing them to quickly respond to changes in market and customer needs. As a result, adjacent innovation enables companies to more easily bring new products to market. An example of adjacent innovation is a software company that builds upon its expertise in software development and leverages its current technology to enter a new market by developing a new platform for online learning (e-learning).

Innovation Examples

Innovation refers to the introduction of new ideas, methods, or devices that bring significant change or development in a particular field or industry. There are many examples of innovation ranging from technology to health, from business to the education sector. Let's examine some of these:

Product Innovation

Product innovation is the process of creating new or improved products that offer unique benefits to customers. An example of product innovation is the development of a flexible, shatterproof screen for a smartphone. This type of technology will provide consumers with a more durable and user-friendly phone that can withstand daily wear and tear.

Service Innovation

Service innovation refers to the development and implementation of new or improved ways of providing service to customers. This can involve creating entirely new services or making existing services more efficient, convenient, or effective. Service innovation can be an important part of growth and competitiveness for businesses as it enables them to better meet the needs and expectations of their customers. It can also help differentiate a business from its competitors and be a valuable source of value for customers.

An example of service innovation is the development of meal delivery services in response to demand from employees who do not have time to prepare meals and order from outside. These services use advanced technology to make it easy for customers to order meals without having to leave their homes. Such innovations have provided great convenience, particularly for people with busy work lives.

Marketing Innovation

Marketing innovation refers to the development and implementation of new and creative ideas in the field of marketing. This can involve the use of new technologies and the implementation of new marketing strategies. Marketing innovation is important as it can assist businesses to stand out from their competitors and effectively address the needs of their customers.

Using virtual reality technology in marketing campaigns is an example of marketing innovation. This technology allows businesses to create immersive, interactive experiences that can captivate their customers in ways that traditional marketing methods cannot. For example, a clothing retailer could use virtual reality technology to create a virtual dressing room where customers can try on clothes and see how they look before making a purchase. This could help the retailer stand out from its competitors and increase sales.

Organizational Innovation

Organizational innovation refers to the process of developing and implementing new ideas and strategies within a company to improve performance and efficiency. It is an important aspect of modern business and can help organizations stay competitive in an increasingly dynamic market. Companies can foster an innovation culture by encouraging their employees to think creatively and take calculated risks, which can drive success and positive change within the company.

Allowing companies to implement a flexible work schedule for their employees can be an example of organizational innovation. This program, which gives employees more control over their work schedules, increases productivity and job satisfaction by allowing employees to choose their own working hours as long as they are available during the basic business hours and meet the work requirements. This can be especially beneficial for employees who have family or other outside responsibilities.

Business Model Innovation

Business model innovation refers to the process of developing and implementing new or improved methods of conducting business. This type of innovation can encompass everything from developing new products or services to improving existing ones, to finding more efficient ways of producing or delivering goods and services. Business model innovation is often driven by the need to maintain a competitive edge in rapidly changing markets, as well as the desire to improve customer experience. By embracing business model innovation, companies can gain a competitive advantage and better respond to the needs of their customers.

The transition from traditional physical retail sales to online or e-commerce can be seen as an example of business model innovation. This change allows companies to reach a wider audience, provide convenience for customers, and reduce costs by eliminating the need for physical storefronts. By moving their sales and operations online, businesses can innovate and adapt to changing market conditions and consumer behaviors.

innovation

The Importance of Innovation in Human Resources

Innovation is also very important in the field of Human Resources, as it is in every field. Companies can increase employee satisfaction and productivity by constantly seeking new and better ways to manage and develop their workforce.

Innovation in human resources can take many forms, from the implementation of new technologies to improve HR processes to the development of creative employee development and training programs.

Companies can use advanced HR applications developed with the latest technologies to gain an advantage over their competitors or attract sought-after employees with their success. In addition, innovative HR strategies can help to cultivate a culture of continuous learning and improvement that may be necessary for long-term success.

In conclusion, innovation plays an important role in increasing a company's competitiveness, development and differentiation in the market. Innovation is an important concept because it helps the development of societies. In the digital world, it allows us to develop new and better ways of doing daily or future tasks, which leads to advancement, efficiency, productivity and overall well-being. Innovation also helps to solve problems and meet the changing needs of the world. It contributes to the creation of new products, services and industries that can accelerate economic growth and create employment. Additionally, innovation helps to encourage creativity and critical thinking, which are important skills for individuals to have in today's world.

Should you have any queries or need further details, please contact us.

Notification!

Contents provided in this article serve to informative purpose only. The article is confidential and property of CottGroup® and all of its affiliated legal entities. Quoting any of the contents without credit being given to the source is strictly prohibited. Regardless of having all the precautions and importance put in the preparation of this article, CottGroup® and its member companies cannot be held liable of the application or interpretation of the information provided. It is strictly advised to consult a professional for the application of the above-mentioned subject.

Please consult your client representative if you are a customer of CottGroup® or consult a relevant party or an expert prior to taking any action in regards to the above content.

About The Author

Civan Güneş

Digital Marketing Specialist

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CottGroup® companies' network ("CottGroup®") includes independent companies with separate legal entities that provide various sections of this website and other websites in the CottGroup® member network; and this Personal Data Protection and Processing Policy applies separately for each CottGroup® member company.

Thank you for visiting our website and reading our privacy and security statement.

Basic Information About Our Approach to Data Security and Privacy

CottGroup®'s network of companies (CottGroup®) has dedicated itself to ensuring the security of your personal data in all of its information systems. For CottGroup®, privacy and security matters form the basis of the relation between us and our customers. CottGroup® understands your particular concern about your confidentiality and security and place utmost importance on that matter.

CottGroup® consists of multiple independent members which provide various sections of the websites in CottGroup®'s network of members. Please click here to see our current member companies. New members to be added to the CottGroup®'s network of members in future will also be viewable by clicking the same link.

Information that you will be disclosing when using this website may also be controlled by any other firm among the members of CottGroup®'s network in order to enable us to secure the control, inspection and security of the said data at the utmost level. Each independent member shall be legally liable for any data controlled and inspected by it.

CottGroup® Privacy Statement is applicable to all data processed by CottGroup®, including Personal Data collected or transmitted via our websites in CottGroup®'s network, our software and self-service applications, mobile applications or social media accounts and other online or off-line channels.

Protection of Personal Data

CottGroup® acts in the capacity of a data controller and data processor in line with the Turkish Personal Data Protection Law (KVKK) no. 6698 and provisions of any other legislation applicable to the protection of personal data. Accordingly, personal data shall be processed only by CottGroup® personnel authorized to implement any privacy and security policy as well as services falling within the scope of duty of CottGroup®'s management office and the personnel named in the privacy and security authorization matrices, and those natural/legal persons authorized by CottGroup® for such purpose by fulfilling the condition of informing the data subjects. For details, please click the Personal Data Protection and Processing Policy.

Electronic Messages

Subject to communication consents provided by you during your communication with us regarding electronic (e-mail) messages and through any other CottGroup® channel, you will be deemed to have accepted to receive e-mail messages through your contact details, for the promotion of services offered by CottGroup® and its business partners, information on new products and services, announcements on issues regarding legislation, and other matters that may be of interest for you. In this respect, you may contact CottGroup® to request that messages are no longer sent to you through one or more than one communication channel.

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  • Areas such as Login time, Username and User ID that are necessary for our software and self-service applications ("Applications")
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  • Your browser's language

Please click Cookie Policy for details.

Purpose of Using Your Data

We may use your personal data which we record during your visits to our website, via automated or non-automated means, or which you may disclose to us in communication forms, e-mails or via other electronic transactions, primarily for the purpose of satisfying your requests and subsequently for ensuring improvement of the services offered to you. Overall purposes of use of such data may be listed as follows:

  • To contact you
  • To enable your access to the website or self-service options, by performing operations regarding your online account, including but not limited to the provision of a username and password
  • To answer questions received from you
  • To provide information about legislative changes and other important matters
  • To ensure the administration of our website
  • To improve our service quality

Please do not disclose such data that you would not want us to collect for the purposes above. Please remember that unless you provide such data, we will be unable to contact you, and that your certain data may still be collected by means of cookies during your visit to this website.

Data Security

CottGroup® places utmost importance on the security of your data. CottGroup® places utmost importance on the security of your data. We take measures conforming to sector standards to prevent unauthorized collection and use of your data. Exchange of information on the İnternet is not generally secure. Therefore, we recommend you exercise due care by user when exchanging information through our websites and online systems. If you do not take this care, CottGroup® cannot guarantee you about security of your information and communication on the website or capture them by third parties.

When your information arrives at CottGroup®, it is protected in accordance with our security and privacy standards. Your data are stored for the purposes set out above and only for the durations required by the needs of our business process or as prescribed by law.

Data Transfer

We may transfer the personal information we collect about you to other countries different from the country we collect the data, as we use their services of the internet service providers, hosting companies, e-mail providers, domain providers (for example: Microsoft 365). Data protection laws and regulations applied in these countries may differ from the laws applicable in Türkiye.

Hereby, we will protect your information in accordance with the applicable law as described in this Privacy Policy while transferring to other countries.

Protection for Children's Online Activities

We support parents willing to supervise and control online activities of their children. In no event do we ask children on purpose to share their personal data. If we come to know that a person whose personal data are collected by us is younger than 13 years old, we may use such data to try to promptly inform his/her parents. This rule shall be applicable for age 16 under the European Union General Data Protection Regulation (GDPR).

Designing New Processes in Line with Privacy Rules

CottGroup® takes the most appropriate technological and organizational measures to ensure confidentiality when developing new systems and applies necessary developments for the processing of personal data in line with their intended purposes (Privacy by design).

Should you have any queries about this Privacy Policy, please click the link.

CottGroup® website: https://www.cottgroup.com

Online Visitor Clarification Text On The Processing Personal Data

Data Controller: Boss Yönetişim Hizmetleri A.Ş.

Address: Astoria Towers Büyükdere Cad. No: 127 B Kule Kat: 8 34394 Şişli, İstanbul, Türkiye

Boss Yönetişim Hizmetleri A.Ş. ("Company") prepared this Clarification Text as the data controller to inform you, our valuable online visitors, about your personal data that we process in accordance with the Law on the Protection of Personal Data (hereinafter referred to as "KVKK") and the relevant legislation.

1. Your Personal Data Processed and The Scope of The Processing

Personal data is any data that identifies you or makes you identifiable. For example, your name, surname, eye color, phone number or bank account information are considered personal data. On the other hand, processing your personal data refers to all kinds of processes such as obtaining, amending, registering, storing, retaining, deleting, disclosing, and transferring your data. We have provided the following information about the personal data we process:

ID Data

Your Processed ID Data Purposes of Processing
Your ID Data
Collection Methods of
Your ID Data
Legal Reasons Behind Our Data Processing Activities
  • Name
  • Surname
  • Execution of Customer Relationship Management Processes
  • Conducting Activities for Customer Satisfaction
  • Execution of Goods/Service Sales Processes
  • Online Electronic Forms
  • Contact Forms
  • It is required to process your personal data as a party to the contract, provided that it is directly related to the establishment or performance of a contract.
  • It is mandatory to process data for the legitimate interests of the data controller, provided that it does not harm your fundamental rights and freedoms as a data subject.

Contact Data

Your Processed Contact Data Purposes of Processing Your Contact Data Collection Methods of Your Contact Data Legal Reasons Behind Our Data Processing Activities
  • Your contact data about your work (e-mail, address, phone number)
  • E-Mail Address
  • Address Information
  • Execution of Customer Relationship Management Processes
  • Conducting Activities for Customer Satisfaction
  • Conducting Communication Activities
  • Online Electronic Forms
  • Contact Forms
  • It is required to process your personal data as a party to the contract, provided that it is directly related to the establishment or performance of a contract.
  • It is mandatory to process data for the legitimate interests of the data controller, provided that it does not harm your fundamental rights and freedoms as a data subject.

Personnel Data

Your Processed Contact Data Purposes of Processing Your Contact Data Collection Methods of Your Contact Data Legal Reason of Our Data Processing Activities
  • Company name
  • Sector
  • Execution of Customer Relationship Management Processes
  • Execution of Sales Processes for Goods / Services
  • Conducting Activities for Customer Satisfaction
  • Conducting communication activities
  • Online Electronic Forms
  • Contact Forms
  • It is required to process your personal data as a party to the contract, provided that it is directly related to the establishment or performance of a contract.
  • It is mandatory to process data for the legitimate interests of the data controller, provided that it does not harm your fundamental rights and freedoms as a data subject.

Customer Transaction Information

Your Processed Customer Transaction Information Purposes of Processing Your Customer Transaction Information Collection Methods of Your Customer Transaction Information Legal Reasons Behind Our Data Processing Activities
  • Request/Complaint Information
  • Execution of Customer Relationship Management Processes
  • Online Electronic Forms
  • Online Contact Forms
  • It is required to process your personal data as a party to the contract, provided that it is directly related to the establishment or performance of a contract.
  • It is mandatory to process data for the legitimate interests of the data controller, provided that it does not harm your fundamental rights and freedoms as a data subject.

Transaction Security Information

Your Processed Transaction Security Information Purposes of Processing Your Transaction Security Information Collection Methods of Your Transaction Security Information Legal Reasons Behind Our Data Processing Activities
  • IP Address
  • Request Time and Date
  • Time zone Difference from Greenwich-mean-time (GMT)
  • Access Status/http Status Code
  • Amount of Data Transferred
  • Website to Which the Request Was Sent
  • Browser Information
  • Operating System and User Interface
  • Language and Version of the Scanner Software
  • Approximate Location Information
  • Execution of Customer Relationship Management Processes
  • Conducting Activities for Customer Satisfaction
  • Conducting Marketing Analysis Studies
  • Execution of Information Security Processes
  • Conducting Activities in Compliance with Legislation
  • Online Electronic Forms
  • Online Contact Forms
  • It is required to process your personal data as a party to the contract, provided that it is directly related to the establishment or performance of a contract.
  • It is mandatory to process data for the legitimate interests of the data controller, provided that it does not harm your fundamental rights and freedoms as a data subject.

2. Our Retention Period for Storing Your Personal Data

We store your personal data for a period of time stipulated in the relevant legislation or for the periods of time required by the processing purposes. We will delete, destruct or anonymize your data by ex officio or upon your request, if legal reasons requiring data processing disappear.

3. Your Rights Regarding Your Personal Data

Data subject refers to the natural persons whose personal data are processed. As a data subject, you, our valuable online Visitors, have the following rights regarding your personal data processed under KVKK:

  • To learn whether your personal data are being processed,
  • To request information if your personal data are processed,
  • To learn the purpose of processing your personal data and whether this data are used for the intended purposes,
  • To know the third parties to whom this personal data is transferred domestically or abroad,
  • To request the rectification of the incomplete or inaccurate data, if there are any,
  • To request the deletion or destruction of this personal data under the conditions set forth in KVKK,
  • To request notification to the third parties that the personal data have been transferred to about the rectification of incomplete or inaccurate data and the deletion or destruction of personal data upon your request,
  • To object to the issues that have arisen due to the analysis of your data exclusively through automated systems and are to the detriment of you,
  • To request compensation for the damage arising from the unlawful processing personal data.

4. Methods To Follow to Exercise Your Rights

You can share your application and requests regarding your personal data with Boss Yönetişim Hizmetleri A.Ş. via Data Subject Application Form,

  • By sending it with your wet signature and a copy of your identity card to Astoria Towers Büyükdere Cad. No: 127 B Kule Kat: 8 34394 Şişli, İstanbul, Türkiye,
  • By sending an e-mail to This email address is being protected from spambots. You need JavaScript enabled to view it.,
  • By applying in person with a valid identity document to Astoria Towers Büyükdere Cad. No: 127 B Kule Kat: 8 34394 Şişli, İstanbul, Türkiye

You, as a data subject, should include your name and surname, your signature if the application is in written form, your Turkish ID Number if you are a Turkish citizen, your nationality and passport number (or if you have an ID number) if you are foreigner, place of residence or business address for notifications, your e-mail address and fax number if you have one, and lastly, the subject of the request in your application with respect to legal requirements regarding the applications to data controllers. In addition, you should add documents and information confirming your identity to your application.

In order for us to operate the process in the most effective way for you, you should clearly and understandably indicate in your request which right you want to use and the details of the transaction you request.

We would like to emphasize that the request should concern the data subject itself. If the application is made on behalf of someone else, the person making the request should rely on a specially documented authorization for the requested transaction (power of attorney). Unauthorized applications will not be evaluated.

5. Evaluation of Your Application

By evaluating your applications, we respond to you as soon as possible and within 30 days of receipt as of the date of your application.

 

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