Innovation refers to the development and introduction of new or improved products, services, technologies, or processes.
It is a key driver of economic growth, as it leads to increased productivity, efficiency, and competitiveness.
Innovation can take many forms, including product innovations (new products or improved versions of existing products), process innovations (new ways of producing existing products), and organizational innovations (new ways of organizing or managing production).
Innovation can be disruptive, leading to the decline of established industries or the emergence of new ones.
It often involves collaboration between firms, researchers, and other organizations, as well as investment in research and development.
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