We spoke in lecture about the 4 P’s of innovation being: Product, Process, Position and Paradigm. Product innovation is the development of an existing product; process innovation is a change in delivering the service and Position being a change in their place in the market. We discussed examples of each innovation and from here it became clear how vague the boarders of each type of innovation were. It was easy to mistake one type of innovation for another or maybe a change in process meant a change in product so types intertwined. When we were asked to give an example of Paradigm innovation it left the class in an awkward silence. Even with the given definition I was unsure of what was meant by this.
Corrine asked for us to go away and blog about paradigm innovation. I did research on the term paradigm and how this could relate to innovation on a whole. When given the example of Henry ford’s first affordable motor vehicle being a Paradigm. It gave me something to work off I used the definition of a Paradigm being a concept or thought pattern. I used this definition and example to identify to myself what actually Paradigm innovation was; one shaped on what the people want/need. This leads to the innovation being something that has never been done before; because who would need something that has already been done?
I then thought of a Paradigm innovation: Low cost airlines. The first low-cost airline was the American company Southwest which launched in 1971. A company that cuts out all the fancy things and gives you what you need at a reasonable price. What the people need? Everybody likes to travel but high costs made it hard. This company started a new market of low cost flights and soon were followed by the likes of Easy Jet and Ryanair. Before I done my research i would have argued this was a change in process, but now I understand this was a change in paradigm. By giving the customer what they need they can eliminate what is desirable and start a whole new market.