Continuous innovation demands dedication not only to providing the best possible products, but also to offering the customer more exciting features and benefits than your competitors. Continuous innovation results in product leadership. For example, Microsoft is expert in continuous innovation in several markets, including operating systems, productivity packages, and online services.
Continuous innovation is based on the following principles:-
Risk-oriented management style: Innovation requires that there are risks inherent in new ventures.
Growth by mergers and acquisitions: It means acquisition of new products and those who design them.
A market-education style: Your company must lead the market in educating customers about how to use and benefit from new products.
Encouraging innovation: If we create innovation system that rewards success, then constant product innovation will be encouraged.