Innovation

Innovation refers to the process of creating and implementing new ideas, products, services, or processes that improve efficiency, effectiveness, or value. It involves introducing something novel that can change existing methods or create new markets. Innovation can occur in various forms, including technological advancements, unique business models, or creative approaches to problem-solving. It is often driven by the need for improvement, competition, or changing consumer demands. Innovation plays a crucial role in economic growth and can lead to significant societal changes by enhancing productivity and providing solutions to challenges.