What is innovation?

Innovation achieves an outcome in a significantly different and better way. It is the significant difference that determines innovation.

Innovation means the application of the idea and process rather than the invention or tool required to achieve it Innovation involves and requires creativity but is different from it, as it involves acting on the creative ideas and bringing them to life.

Innovation is used as a valid measure of business success and is now the subject of the international innovation index and related studies.

Examples are e Commerce - on line shopping negating the need for retail businesses to exist in any form but on the internet, and hybrid car technology that uses a combination of battery and petrol power as the energy source