Innovation

Innovation refers to the process of creating and implementing new ideas, products, services, or methodologies that improve upon existing solutions or address unmet needs. It involves the introduction of novelty into the market or organization, which can take various forms, including technological advancements, improvements in processes, or the development of creative solutions to problems. Innovation is often characterized by its potential to generate economic value, increase efficiency, enhance user experience, or solve complex challenges. It is a key driver of progress in various fields, including business, science, technology, and social endeavors. The term encompasses both incremental innovations, which involve small, gradual changes, and radical innovations, which entail significant breakthroughs or changes in paradigms.