Innovation - Page 153

Innovation refers to the process of developing and implementing new ideas, products, services, or methods that bring significant improvements or advancements. It involves creativity and practical application, leading to novel solutions that can enhance efficiency, effectiveness, or user experience. Innovation can occur in various forms, such as technological advancements, improvements in processes, or the introduction of unique concepts in business models. It plays a crucial role in driving economic growth, competitiveness, and progress across different sectors by addressing emerging needs, solving problems, and responding to changing market demands.