Definition of Innovation:
The process of converting an idea or invention into a product or service that creates value or is paid for by the customer.
In order to consider innovation, a theory must be productive at economic cost and meet certain requirements. Innovation involves the conscious use of information, imagination and initiative to get the most out of a resource, and it involves all the processes by which new ideas are developed and turned into useful products. In business, innovation usually occurs when companies implement ideas to better meet customer needs and expectations. In the social context, innovation allows for new ways to create alliances, joint ventures, flexible working hours and purchasing power for buyers. Innovation comes in two broad categories: evolutionary innovation (permanent or dynamic evolutionary innovation) due to many technological advances or incremental processes, and modern innovation (also called intermittent innovation), which is usually disruptive. Is new and new.
Innovation means taking risks, and innovative companies or companies developing technologies take the greatest risks when creating new companies.
The risk is lower when copies start with innovative products and adopt more efficiently. For example, PCs are cheaper than Apple Computer, IPC is cheaper than Compaq, PCs are cheaper than IBM, and Dell is cheaper than Compaq.
The act or process of innovation.
Synonyms of Innovation
Rearrangement, Coinage, Vicissitude, Modernization, Pattern, Pilot model, New phase, Creativity, Avant-garde, Freshness, Wrinkle, Permutation, Invention, Model, Recasting, Metamorphosis, Novelty, New departure, Uniqueness, Remodelling, Introduction, Sport, Latest fashion, Advance guard, Inventiveness, Original, Change, The in thing, Upheaval, Neologism, Restructuring, Latest wrinkle, Prototype, Breakthrough, The latest thing, Archetype, Revolution, Transformation, Restyling, Leap, Newfangled device, Reorganization, Nonimitation, Renovation, Variation, Originality, Mutation, Deviation, Alteration, Newness, Latest fad, Authenticity, The last word, Discovery, Vanguard, New look, Creativeness, Alteration
How to use Innovation in a sentence?
- Some people appreciate technology and innovation, but I think we should go back in the dark because we as a society will be happier.
- Innovation is essential for a company's continued success.
- By allowing innovators to take advantage of their efforts, we create an environment that encourages innovative thinking and hard work.
- Sofia is happier in the workplace - she celebrates innovation and rewards employees who come up with new ideas and better ways.
Meaning of Innovation & Innovation Definition