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Travelling Essay Preview: Travelling Report this essay Innovation = Invention (Idea → Discovery → Research → Development → Invention) + Market Launch (+ Exploitation) An Invention needs to have commercial value (market launch) to become innovation!Types of Innovation:1. Product innovation2. Process innovation3. Service innovationScope/Impact of Innovation1. Incremental: small improvement2. Significant: technology unchanged → from B&W printer to color printer3. Radical:.