Innovation Taxonomies: Value Generation & Distribution

This lecture explores innovation taxonomies focusing on value generation and distribution. It covers different types of innovation such as product, process, model, system, and economic innovation. The lecture delves into the impact of innovations on consumer needs, production costs, and economic activity. It also discusses the value distribution aspect, distinguishing between business, social, and public innovations. The instructor presents examples of famous innovations and debates the concept of soft innovation, emphasizing aesthetic and intellectual appeal over functional performance in various industries.