Innovation

Innovation refers to the process of developing new ideas, methods, products, or services that improve upon existing solutions or address unmet needs. It involves creativity and the practical implementation of novel concepts to create value. Innovation can occur in various forms, including technological advancements, improvements in processes, or changes in business models. It is essential for economic growth, competitiveness, and societal advancement, as it drives efficiency, enhances quality of life, and fosters new market opportunities. Innovation can be incremental, involving small, continuous improvements, or disruptive, leading to significant changes that reshape industries or create entirely new markets.