What Is The Service Innovation Process?

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Innovation,

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October 27, 2021

Have you ever heard of Service Innovation? If yes, then what else do you know about this concept? Generally, most people are unaware of this concept or even know they can't explain what it is all about. Service Innovation is undoubtedly a very interesting and crucial topic to know if you are interested in the Business Sector. So to know more about it, read further.

Concept of Service Innovation Process

The service innovation process can refer to a variety of things, including new or enhanced service products, as well as innovation in services. Though service products can contain technology features, this is frequently contrasted with "technological innovation." Service design and "new service development" are strongly linked to this meaning of the service innovation process.

It might also be characterised as innovative or enhanced ways of planning and creating services in service processes. This could involve service delivery system innovation, though it's more likely to be viewed as a service product innovation. This type of innovation can be technology, technique- or expertise-based, or it can be a question of work organisation.

Now that you know what it means, let's read what's the significance of service innovation.

Importance of Service Innovation Process

It has great significance in Business Field:

  • Service innovation can be an effective strategy for a business to gain a long-term competitive advantage.
  • Turning to or adopting service models may assist firms in overcoming the difficulty of maintaining growth in saturated markets, as well as the problem of commoditization.
  • A service-based strategy can help businesses in a variety of ways. Adopting a service-based strategy, for example, can assist in improving service offerings, cost framework, delivery method, and technology.

While service innovation can and should happen in the service industry, it is not required. Non-services sectors, such as manufacturing enterprises that diversify their supply portfolio with value-added services, can also provide new and enhanced services.

Service Innovation: Theory and Process Strategy

Service innovation is helping companies develop new revenue sources by meeting their customers' demand to get things done in sectors ranging from heavy machinery to health care to financial services to consumer goods.

These service innovation basics are outlined in the book "Service Innovation: How to Go From Customer Needs to Breakthrough Services":

  • People "lease" a credit card to make transactions, a doctor to evaluate and treat a disease, and education to advance their careers. Organisations can define client value in a way that guides enhancements to current services and the creation of totally new services by focusing service innovation on the task rather than the service itself.
  • A job is a series of steps, and each one offers potential for service innovation. However, many businesses only provide value to clients if they take specific actions. Most credit card businesses, for example, concentrate on the payment stage while overlooking other milestones along the journey. What's the result? Many businesses miss out on lucrative prospects that are complementary to their current offerings.
  • Both services and products are responses to customer demands. It is vital to first find the opportunities before designing solutions for a service or product. Almost all "solutions" contain services and products as part of their delivery.
  • An organisation should evaluate the major ways in which services are built to develop unique services that separate them from the competition using certain measurements of consumer value.

Each of these processes in the service innovation process is part of our Outcome-Driven Innovation process.

About MIT ID Innovation

MIT ID innovation is an excellent institute of India that is well-known for providing a variety of innovation-based courses. The courses we offer are to make sure that the students learn more about service innovation and contribute to its process. If you want to learn more about MIT ID innovation, you can visit our website.

 

References

https://www.researchgate.net/publication/336408668_Service_innovation_process_digitization_areas_for_exploitation_and_exploration

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    MIT Pune: The pioneer of MIT institutions

    The MIT Group of Institutions pioneered the revolutionary extension of higher training in Maharashtra. MIT Pune contributed to bringing high-quality education to every student who aspired to train under excellent faculty. With 32 years of expertise, the MIT Group now includes 64 institutions, more than 6,500 teaching and non-teaching professionals, and more than 12 sites across Maharashtra to meet the educational requirements of more than 50000 thousand students.

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    The foundation of MIT Institute of Design

    With a strong foundation and credibility, MIT Pune founded the MIT Institute of Design under MAEER MIT Pune. MAEER's MIT Institute of Design began operations in August 2006, directed by the best brains in Indian design education at the time, intending to establish itself as a world-class research and teaching centre.

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    All of the design programmes are focused on establishing a real knowledge of structural space via analytical skills, self-directed study, and an integrated research approach through active learning, which is learning by exposing students to real-world situations.

    About MIT ID Innovation

    As you might expect, design innovation is a method for generating new ideas. It focuses on meeting people's demands with technologically possible solutions and developing a successful business plan to capitalize on this market potential. These are the criteria to which we, as people and as an Education Technology and Design start-up, adhere. It's something we do regularly; we aim to use Design Innovation to unleash the brilliant ideas of learners and lecturers so that they can (train youngsters too) take on today's and tomorrow's difficult issues.

    With a similar idea in mind, the MIT ID Innovation Programme was founded as a flagship under the MIT Institute of Design. It is a one-year program for self-motivated and enthusiastic students who want to develop cutting-edge goods, services, and companies for today's and tomorrow's worlds. To build a comprehensive approach to design and innovation, MIT ID Innovation offers one of the best innovation courses in India which integrates Technology, Design, and Business. Graduates and business professionals from various artistic, technological, and social science disciplines are welcome to apply. The curriculum framework is entirely project-based, with a strong emphasis on teaching practical and hands-on expertise.

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    Dashlessdash

    An initial program that allows students to collaborate with each other in the design thinking courses in India to develop a viable commercial, design, or technological solution, allowing them to relearn what they already know and apply a comprehensive methodology to innovation.

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    Significant undertaking

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    Courses offered in MIT ID Innovation

    PG Diploma in Innovation equivalent to MBA in Innovation

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    Conclusion

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