Explain the difference between product innovations, process innovations, and managerial innovations, and give an example of each.

Product innovations have a direct impact on the cost, quality, style, or availability of a product or service.Examples include DVD, HDTV, and cellular telephones.Process innovations are new ways of designing products, making products, or delivering services.Some examples are CAD, TQM, and flexible manufacturing.Managerial innovations are new forms of strategy, structure, human resource systems, and managerial practices that facilitate organizational change and adaptation.Examples include job enrichment, participation, reengineering, and quality programs.