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A continual improvement process, also often called a continuous improvement process (abbreviated as CIP or CI), is an ongoing effort to improve products, services, or processes. [1] These efforts can seek " incremental " improvement over time or "breakthrough" improvement all at once. [ 2 ]
Sustaining innovation is the improvement of a product or service based on the known needs of current customers (e.g. faster microprocessors, flat screen televisions). Disruptive innovation in contrast refers to a process by which a new product or service creates a new market (e.g. transistor radio, free crowdsourced encyclopedia, etc ...
Examples of point kaizen include a shop inspection by a supervisor who finds broken materials or other small issues, and then asks the owner of the shop to perform a quick kaizen to rectify those issues, or a line worker who notices a potential improvement in efficiency by placing the materials needed in another order or closer to the ...
Productivity-improving technologies date back to antiquity, with rather slow progress until the late Middle Ages. Important examples of early to medieval European technology include the water wheel, the horse collar, the spinning wheel, the three-field system (after 1500 the four-field system—see crop rotation) and the blast furnace.
Existing product development is a process of innovation where products/services are redesigned, refurbished, improved, and manufactured which can be at a lower cost. This will provide benefits to both the company and the consumer in different ways; for example, increased revenue (benefits the company) cheaper costs (benefits the company and ...
An 1880 penny-farthing (left), and a 1886 Rover safety bicycle with gearing. In business theory, disruptive innovation is innovation that creates a new market and value network or enters at the bottom of an existing market and eventually displaces established market-leading firms, products, and alliances. [1]
Technological change (TC) or technological development is the overall process of invention, innovation and diffusion of technology or processes. [1] [2] In essence, technological change covers the invention of technologies (including processes) and their commercialization or release as open source via research and development (producing emerging technologies), the continual improvement of ...
Smartstores – RFID-based self-checkout (keeping track of all incoming and outgoing products), food packaging, smart shelves, smart carts. See: potential uses: Software-defined radio: Development, commercialization Cognitive radio, Mesh networks, Software defined antenna