Innovation refers to the process of creating new ideas, products, or methods, or improving existing ones to better meet the needs of society, businesses, or individuals. It encompasses a wide range of activities and approaches, including technological advancements, creative problem-solving, and the application of new concepts across various fields. Innovation can manifest in diverse forms, such as product innovation (developing new or improved items), process innovation (enhancing production or service delivery methods), and business model innovation (restructuring how value is created and delivered). The primary aim of innovation is to drive progress, efficiency, and competitiveness, often leading to economic growth and enhanced quality of life. It plays a critical role in addressing challenges and responding to changing market demands, fostering sustainability, and promoting social and cultural advancements.
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