Innovation - Page 5

Innovation refers to the process of creating and implementing new ideas, products, services, or methods that drive change and improvement within a given context. It involves not just the invention of novel concepts but also their practical application to enhance functionality, efficiency, or value. Innovation can occur in various forms, including technological advancements, process improvements, business model changes, or the introduction of new market offerings. It is often seen as a key driver of economic growth and competitiveness, fostering the development of solutions that meet emerging needs or challenges. In essence, innovation seeks to propel progress and generate a meaningful impact in society, organizations, and industries.