Innovation is defined as the process of bringing about new ideas, methods, products, services, or solutions that have a significant positive impact and value. Learn more on innovation types, examples and process. Innovation, for its part, can refer to something new or to a change made to an existing product, idea, or field . One might say that the first telephone was an invention, the first cellular telephone either an invention or an innovation, and the first smartphone an innovation. The simple definition of innovation in the business context. We also explain which different fields of innovation there are, what types of innovation are happening and the overall meaning . Innovation is the practical application of ideas that result in different types of new offerings, such as ... An innovation is defined as the introduction of a new idea, method, product, or process that significantly improves or alters the existing state of things, adding value or solving a problem.
