Innovation Innovation generally refers to changing processes or creating more effective processes, products and ideas.
For businesses, this could mean implementing new ideas, creating dynamic products or improving existing services. Innovation can be a catalyst for the growth and success of a business, and help to adapt and grow in the marketplace.
Being innovative does not only mean inventing. Innovation can mean changing a business model and adapting to changes in environment to deliver better products or services. Successful innovation should be an in-built part of business strategy, where you create a culture of innovation and lead the way in innovative thinking and creative problem solving.