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- Dictionaryinnovation/ˌɪnəˈveɪʃn/
noun
- 1. the action or process of innovating: "innovation is crucial to the continuing success of any organization"
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15 Jul 2023 · Innovation is defined as the process of bringing about new ideas, methods, products, services, or solutions that have a significant positive impact and value. It involves transforming creative concepts into tangible outcomes that improve efficiency, and effectiveness, or address unmet needs.
INNOVATION definition: 1. a new idea or method: 2. the creating and use of new ideas or methods: 3. a new idea or…. Learn more.
The meaning of INNOVATION is a new idea, method, or device : novelty. How to use innovation in a sentence. What is the difference between innovation and invention?
Innovation is production or adoption, assimilation, and exploitation of a value-added novelty in economic and social spheres; renewal and enlargement of products, services, and markets; development of new methods of production; and the establishment of new management systems. It is both a process and an outcome.
17 Ogo 2022 · In a business context, innovation is the ability to conceive, develop, deliver, and scale new products, services, processes, and business models for customers. Successful innovation delivers net new growth that is substantial.