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deck:: 2023t1/product/w2/t7
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- ### Definition of Innovation #flashcard
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id:: 648adeaf-19e3-4987-a5d1-d0f6b21e814e
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- Innovation is the process of creating something new that adds value to society. It can involve developing new products, services, processes, or business models. Innovation can be driven by a variety of factors, such as technological advances, changes in consumer preferences, or shifts in the competitive landscape.
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- Innovation is :-> successful implementation of a new or
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significantly improved product (good or service), or
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process, a new marketing method, or a new
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organisational method in business practices,
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workplace organisation or external relations.
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- ### Categories:
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- Product innovation
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- Process innovation
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