Innovation

Innovation refers to the process of creating and implementing new ideas, products, services, or methods that improve upon existing standards or solve problems in novel ways. It involves the introduction of something new or a significant improvement to what is already available. Innovation can occur in various fields, including technology, business, education, and healthcare, among others. It is often associated with advancements that enhance efficiency, effectiveness, and value, ultimately driving progress and competitive advantage. The concept encompasses both incremental changes, which refine existing products or practices, and disruptive innovations that redefine markets or industries. Innovation is considered a critical factor for growth and success in a rapidly changing world.