Innovation

Innovation refers to the process of developing and implementing new ideas, products, services, or processes that bring about significant improvement or transformation. It involves creativity and the practical application of novel concepts to solve problems, enhance efficiency, or meet emerging market needs. Innovation can occur in various forms, including technological advancements, business model improvements, and social innovations. It plays a crucial role in driving economic growth, societal progress, and enhancing competitiveness in various sectors. The essence of innovation is not only in the creation of something new but also in its successful execution and integration into existing systems or practices.