Transformation Power of Service Innovation

According to this new report by PwC, innovation can no longer be considered as a purely technological endeavour aimed at developing products and processes.Service innovation comprises service concepts such as new or improved services as well as introduction of service process innovation, service infrastructure innovation, customer process innovation, business model innovation, commercialisation innovation (sales, marketing and delivery), service productivity innovation and hybrid forms of innovation used by several user grioups in different ways simultaneously.

 

Service innovation not only covers innovation in services, service sectors or service industries that are provided by service entrepreneurs and service firms, but also innfluences manufacturing industries through the involvement of new collaborative digital services, adding further value and signifcantly contributing to overall productivity and profitability.

 

Read the complete PwC report here.

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