There are two primary ways through which companies can carry out innovation. The two methods are incremental innovation and radical innovation. Incremental innovation on its part does not involve massive changes in what it’s producing. Firms that carry out incremental innovation usually tend to improve what they have on a steady and gradual process. The new ideas come in bits. Companies that tend to carry out incremental innovation look at the cost of developing the original idea compared to the one that they will incur if they improve the existing features on a gradual process.
A firm by the name IMPSA (Industrias Metalurgicas Pescarmena S.A.thta is involved in a wide range of project installation and launching, is an excellent example of a company that is self-sufficiency in carrying out incremental innovation. Since the start of IMPSA, the company seems to be self-reliant in terms of engineers and other innovative experts. As it deals with the building of windmills, dams, harbor cranes and other serious projects, the company’s engineers are improving what they have and bettering it for the market. The firm’s engineers and experts are always being engaged in developing available machines for efficient services.
The second type of innovation is a radical innovation. This is the kind of change that is carried out when a firm purely comes out with a new idea and develop it into a new market product. Radically innovated products tend to enter the market with a brand new launch. A new look and even addition of features are what the elements that accompany radical innovation. Under the sub-topic, the Titans Company development of the original idea is vital in sustaining the company’s market validity and competition vulnerability. The Titan Company has been one of the leading sellers of jewelry and watches in the world. Titan contains development experts who are always integrating backward keenly into the manufacture of critical watch components
IMPSA is a firm that categorically deals with incremental innovation. IMPSA was started as a firm early in 1965 that was meant to make gates and do replacement of some parts. It was a firm that was focused on being a construction business, and it majorly focused on the local market. After the death of the grandfather, the namesake grandson took over and developed the passion of improving the form into a large company driven by its idea, as well as technology and knowledge in every part that was within the processes that carried out the functioning unit in the firm.
The grandson’s focus was on making the company a world class company that would export its good or services all over to other countries. Therefore he was convinced that his firm should focus on producing cranes, dams, pressure vessels and possibly components of nuclear power. Later on, the company was bidding for an international project such as those for dams and crane development. With time the company become a global company with employees all over the world and with lots of projects being carried out in a different part of the world
The company later was subdivided into smaller units with each dealing with its purpose. Some of its various groups include IMPSA Hydro, IMPSA Wind, IMPSA Energy, IMPSA Process and IMPSA Environmental Services. All these smaller units that are under this company are meant to deal developing new ideas that would assist in renovating the structure of the company to be more efficient as the company prospers in carrying out its research.