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- DictionaryIn·no·va·tion/ˌinəˈvāSH(ə)n/
noun
- 1. the action or process of innovating: "innovation is crucial to the continuing success of any organization"
ISO TC 279 in the standard ISO 56000:2020 defines innovation as "a new or changed entity, realizing or redistributing value ". [2] Others have different definitions; a common element in the definitions is a focus on newness, improvement, and spread of ideas or technologies.
McKinsey Explainers. What is innovation? Innovation is the systematic practice of developing and marketing breakthrough products and services for adoption by customers. August 2022. When you think of innovation, what springs to mind? Maybe it’s a flashy new gadget—but don’t be mistaken.
INNOVATION definition: a new idea or method that is being tried for the first time, or the use of such ideas or methods: . Learn more.
Mar 16, 2024 · At its core, the definition of innovation involves the introduction of something new or the significant improvement of existing products, processes, services, or technologies. It's about bringing to life ideas that solve complex problems, meet emerging customer needs, or tap into new markets.
Dec 13, 2023 · Innovation is a dynamic and multifaceted concept that encapsulates the process of introducing novel ideas, methods, products, or services to create positive change and enhance value.
noun [ C, U ] uk / ˌɪnəʊˈveɪʃ ə n / us. Add to word list. a new idea or method that is being tried for the first time, or the use of such ideas or methods: the latest innovations in education. (Definition of innovation from the Cambridge Learner's Dictionary © Cambridge University Press) Translations of innovation. in Chinese (Traditional)
/ˌɪnəˈveɪʃn/ [uncountable] the introduction of new things, ideas or ways of doing something. an age of technological innovation. The company is very interested in product design and innovation. Too strict a regulatory system will stifle innovation. innovation in something innovation in engineering. Extra Examples. Oxford Collocations Dictionary.
