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What is innovation?
Innovation refers to a new invention, which can be, for example, a product, service or operating method.
Innovation can mean, for example:
- a new, unprecedented way of working
- new business model
- a new product or service that doesn't already exist
- a more efficient way to do the old thing
- Streamlining the process in a new way
- reform that makes our daily lives easier, or
- the result of the development work that improves the competitive advantage.