Radical service innovations are driven mostly by technological innovations.

Question

Quizplus · Accepted Answer

Radical service innovations often involve the adoption and adaptation of new technologies that enable new value propositions or new ways of delivering value to customers. Technological innovations can open up new opportunities for firms to create and capture value, and can also disrupt existing business models and industry structures. However, other factors such as changes in customer needs and preferences, shifts in regulatory frameworks, and new forms of collaboration and competition can also drive radical service innovations.

Radical Service Innovations Are Driven Mostly by Technological Innovations