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Jul 15, 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.
Aug 17, 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.
INNOVATION meaning: 1. a new idea or method: 2. the creating and use of new ideas or methods: 3. a new idea or…. Learn more.
Innovation exists anywhere that people innovate, or introduce change. A painter using color in a new way; a chef fusing cuisines together to make a new dish; a charity organization finding new ways to help people—these are all examples of innovation.
INNOVATION definition: a new idea or method that is being tried for the first time, or the use of such ideas or methods: . Learn more.
/ˌɪnəˈveɪʃn/ [uncountable] the introduction of new things, ideas or ways of doing something. an age of technological innovation. The company is very interested in product design and innovation. Too strict a regulatory system will stifle innovation. innovation in something innovation in engineering. Extra Examples. Oxford Collocations Dictionary.
An innovation is a new thing or a new method of doing something. The vegetarian burger was an innovation which was rapidly exported to Britain. ...the transformation wrought by the technological innovations of the industrial age. Synonyms: change, revolution, departure, introduction More Synonyms of innovation. 2. uncountable noun.
