Written by the Fiveable Content Team • Last updated September 2025
Verified for the 2026 exam
Verified for the 2026 exam•Written by the Fiveable Content Team • Last updated September 2025
Definition
Innovation refers to the creation of new ideas, products, processes, or methods that bring about positive change. It involves thinking creatively, taking risks, and implementing novel solutions.
Related terms
Creativity: The use of imagination or original ideas in order to produce something new.
Entrepreneurship: The process of starting a business venture by taking risks and pursuing opportunities for innovation.
Disruption: A radical change that interrupts existing practices or systems through innovative solutions.