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    Invention refers to creating something entirely new like the airplane or lightbulb. Extension expands on existing products or services by applying them in new ways like changing a mobile phone's size or adding conditioner to shampoo. Duplication replicates existing ideas but with the entrepreneur's own improvements to beat competition, such as Marybrown replicating other restaurants. Synthesis combines multiple existing concepts into new applications, such as how the internet combined computers and telecommunications.

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    Invention refers to creating something entirely new like the airplane or lightbulb. Extension expands on existing products or services by applying them in new ways like changing a mobile phone's size or adding conditioner to shampoo. Duplication replicates existing ideas but with the entrepreneur's own improvements to beat competition, such as Marybrown replicating other restaurants. Synthesis combines multiple existing concepts into new applications, such as how the internet combined computers and telecommunications.

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    7 views1 page

    Map 4

    Uploaded by

    api-319197023
    Invention refers to creating something entirely new like the airplane or lightbulb. Extension expands on existing products or services by applying them in new ways like changing a mobile phone's size or adding conditioner to shampoo. Duplication replicates existing ideas but with the entrepreneur's own improvements to beat competition, such as Marybrown replicating other restaurants. Synthesis combines multiple existing concepts into new applications, such as how the internet combined computers and telecommunications.

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    Invention

    Extension

    The creation of a new product,


    service or process which is
    novel and untried. Ex:Wright
    Brothers-Airplane, Thomas
    Edison-lightbulb

    The expansion of existing product,


    service or process. Such concepts
    make a different application of a
    current idea.Ex: Mobilephone-Size,
    function, colour: shampoo
    Pantene new product with
    conditioner

    4 Types of Innovation

    Duplication
    The replication of an already existing
    product, service and process. The
    duplication effort is not simply
    copying but adding the
    entrepreneurs own creative touch to
    enhance or improve the concept to
    beat the competition. Existing
    product becomes the reference. Eg:
    Marrybrown

    Synthesis
    The combination of existing concepts
    and factors into a new formulation.
    Taking a numbers of ideas or items
    already invented and finding a way to
    form a new application. Eg:Internet
    (computer & telecomunication system)

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