In an increasingly dynamic environment, incumbents can achieve a competitive advantage through continuously innovating their market offering. However, the extant literature identifies and describes types of innovations that have a disastrous effect on incumbents (Petzold et al., 2019).

(a) Discuss four (4) distinctive strategies of innovation; cite an example for each strategy.

(b) Critic the needs for an organisation to innovate.

(Note: Four types of innovation: sustaining, disruptive, incremental, and radical.)