Innovation refers to the process of translating ideas or inventions into goods or services that create value or for which customers will pay. It involves the introduction of new concepts, improvement of existing products, or implementation of new processes that enhance efficiency or effectiveness. Innovation can manifest in various forms, including technological advancements, business model shifts, and creative solutions to problems. It is often driven by the desire to improve and adapt to changing needs or market conditions, fostering progress and competitive advantage in various fields, including technology, healthcare, and business. Ultimately, innovation is about the practical application of creativity to deliver better solutions and drive economic growth.
