Service Innovation Process - MIT ID Innovation
                     What is The Service 
Innovation Process 
MITID Innovation
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.
Conclusion
MIT ID Innovation Programme curates 
knowledge and experiences that 
challenge the very paradigm of evolution. 
And that's why we have set out to define 
the future of industries, communities, 
cities and ecosystems. MIT ID Innovation 
offers the best Design Thinking and 
Innovation Courses in Pune. 
We’d love to 
hear
from you.
MIT INSTITUTE OF DESIGN
Rajbaug,, Loni-Kalbhor, Pune-412201
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9834092369
[email protected]
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