All types of innovation can be classified into what two categories?

The correct classification of all types of innovation is into product/service and process. This distinction helps in understanding how innovation can manifest in various areas.

Product/service innovation refers to changes or enhancements made to the goods offered or the services provided. This can include the introduction of new products, improvements to existing products, or entirely new services that meet the needs of consumers in innovative ways.

On the other hand, process innovation involves changes in the way products or services are created or delivered. This can involve adopting new technologies, improving systems to enhance efficiency, or refining procedures that lead to better output or a faster process.

Differentiating innovation in this manner allows organizations to strategize according to their goals—whether they seek to improve their offerings to customers or enhance the mechanisms through which these offerings are produced or delivered.