Types of Innovation in real world included types

Types of Innovation in real world

1. Abdullah Khan Student AT hitms

2. What is Innovation? Innovation is the process of transforming new ideas into practical solutions that add value. It goes beyond just invention; it involves creatively solving problems and improving the way we do things. Whether in technology, business, or everyday life, innovation helps us move forward and adapt to changing needs.

3. Types of Innovation Innovation can take many forms. Product innovation involves creating new or improved products that better serve customers. Process innovation focuses on making how we work more efficient and effective. Business model innovation changes the way companies deliver value, opening new opportunities for growth. Each type plays a key role in driving progress.

4. Why is Innovation Important? Innovation is essential for staying competitive in today’s fast-changing world. It helps organizations meet customer needs more effectively, reduce costs, and improve efficiency. Beyond business, innovation creates new possibilities and shapes the future by turning challenges into opportunities.

5. Thank You Student AT hitms