Innovation Meaning and Definition
Innovation
Pronunciation
/ɪnˈnoʊveɪʃən/
Part of Speech
Noun
Definition
A new or improved method, product, or idea, especially one that is original and creative.
Examples
- New technology is a significant innovation in the field.
- The company’s innovative approach to problem-solving is attracting attention.
Synonyms
- Invention
- Discovery
Antonyms
- Conventionality
- Traditionalism
Etymology
The word “innovation” comes from the Latin “innovare,” meaning “to renew” or “to change.”
Additional Information
Innovation is a key driver of economic growth and development. It involves the introduction of a new or improved product, process, or service that creates value for customers and consumers. Innovation can take many forms, including technological innovation, business model innovation, and social innovation. It requires creativity, imagination, and risk-taking, and often involves collaboration between individuals and organizations.
Usage Notes
Innovation is often used to describe a new or improved method, product, or idea that has not been seen before. It can also refer to a process or system that is new or improved.
Cultural References
Innovation has been celebrated in popular culture, such as in the film “Back to the Future,” in which Marty McFly uses a DeLorean to travel back in time and invent new things.
Idiomatic Expressions or Phrases
- “Think outside the box”
- “Break the mold”
Related Words or Phrases
- Idea
- Entrepreneurship
- Technology
Collocations
- innovative solution
- breakthrough innovation
- disruptive innovation
Frequency of Use
Innovation is a commonly used term in modern language, especially in the context of business and technology.
Common Misspellings
- inovation
- innvatien