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Definition of Innovation

 

 

Innovation = Invention + Exploitation

Innovation is the application of new ideas


Circle of Innovation
- Innovation leads to company growth
Outer circle pulls innovative ideas from the market
Inner circle pushes innovative products, processes and services into the market

Circle of Innovation

Innovation has a direct impact on New Business Development

Consists of all activities by which a company adapts itself to its customers' point of view creatively and

profitably.