Circular Product Innovation Model (PDF Link)

This is the redesign I did on the Circular Product Innovation Model (Buijs 2003).  My mother is continuing her dissertation for her PhD program and she asked me to generate a colorful redesign of this circular model.  I worked on this redesign for two and a half hours today.  I've posted the original diagram below that I received via my mother.  I assume she copied it out of a text-book, article, or periodical.

It was my first attempt at the redesign and I think there could be improvements to my first draft.  Of course, my mother is satisfied with the work/product, but I can automatically tell there are some improvement areas of this visualization (line work, typography, color palette, inner circle text placement, title font, title banner design, source layout and color, and missing arrows on a part of the circle).

Nevertheless, it is a decent start to my (re)visualization practice and experience.  Please tell me what you think and make suggestions.  I enjoy constructive criticism for these projects and professional work.