Innovation

Innovation refers to the process of developing new ideas, products, services, or methods that bring about significant improvements or advancements. It involves the application of creativity and original thinking to solve problems or meet needs in novel ways. Innovation can manifest in various forms, including technological advancements, new business models, enhanced processes, or improved organizational practices. It is a key driver of economic growth, competitiveness, and social progress, as it can lead to increased efficiency, productivity, and value creation. The concept emphasizes not just invention or invention itself but also the implementation and practical application of these new concepts to generate benefits in real-world contexts.