What Does It Mean To Create A New Procedure

What does it mean to create a new procedure?

Innovation can mean a new thing, like an invention, or it can mean the process of creating and introducing new things. A new product is frequently the result of an innovation, but they can also involve new processes or even new ways of thinking. Radical innovation is the rarest type of innovation, despite the stereotyped way that most people view it. Technology, services, and business models that open up completely new markets are examples of radical innovation.

Which three novel concepts are they?

Innovation frequently entails taking a fresh look at an existing concept or item with the intention of making it better. There are three main categories of innovation, though experts hardly ever agree on a single set of innovation types: product, process, and business model innovation. Four main categories can be used to categorize new product developments: those that are novel to the company, better versions of current products, product line extensions, and novel to the market.