What is innovation?

Answer 1

A groundbreaking idea, product, or method;; Apex

Answer 2

Essentially, Innovation is the successful exploitation of new ideas. These can be ideas for products, services or processes. It includes both radical new ideas and incremental changes to existing ones. All businesses can, and should, innovate.

Innovation in business leads to higher and more sustainable profitability, the ability to stay ahead of your competition and provides higher value to customers. It offers a way of meeting challenges both inside and outside your business. It enables businesses to compete effectively in the increasingly competitive global environment.

Innovation is at the heart of increasing competitiveness and productivity.

See http://www.innovation-creativity.com/what-is-innovation.html for more info.