Innovation is production or adoption, assimilation, and exploitation of a value-added novelty in economic and social spheres; renewal and enlargement of products, services, and markets; development of new methods of production; and the establishment of new management systems. It is both a process and an outcome.

In a business context, innovation is the ability to conceive, develop, deliver, and scale new products, services, processes, and business models for customers. Successful innovation delivers net new growth that is substantial.

Innovation is defined as the process of bringing about new ideas, methods, products, services, or solutions that have a significant positive impact and value. It involves transforming creative concepts into tangible outcomes that improve efficiency, and effectiveness, or address unmet needs.

Learn what innovation is, why it's important for business, and how to encourage it in the workplace. Explore the differences between sustaining and disruptive innovation, the four-phase design thinking framework, and the operational and innovative worlds.

Learn how to link innovation to growth aspirations, pursue multiple pathways, invest in capabilities, and cultivate M&A skills. See how innovative growers outperform their peers in the digital age and use generative AI.

Learn about different types of innovation, such as product, process, disruptive, continuous, and radical, and see examples from the 21st century. Explore how to use creativity and design thinking to innovate and solve problems.

Innovation, the creation of a new way of doing something, whether the enterprise is concrete (e.g., the development of a new product) or abstract (e.g., the development of a new philosophy or theoretical approach to a problem).

Innovation IS something different that creates value. When people hear the term “innovation,” they tend to think of new-to-the-world gadgets that fundamentally change how we live our lives.

Learn what innovation means in today's world, how it drives growth and competitive advantage, and what types of innovation exist. Explore the process of innovation, from idea generation to implementation, and see examples of successful innovations in various fields.