Innovation

Innovation refers to the process of creating and implementing new ideas, products, services, or methods that bring about significant change or improvement. It involves the introduction of something novel that enhances efficiency, solves problems, or meets new needs, often leading to increased value or effectiveness. Innovation can be incremental, involving gradual improvements to existing solutions, or radical, representing groundbreaking changes that can transform industries or markets. It is a critical driver of economic growth and competitiveness in various sectors, fostering creativity and encouraging the exploration of new possibilities.