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Innovation is making changes to an already established process, product or service by introduction of something new that adds value to customers with the assurance that it fulfills their needs.
General examples for innovation like in technology world, introducing a new screen size for TVs, adding functionality such as3D or Internet access to TVs. I can also add that changes made can be large or/and small, radical or/and incremental.
An example from my company: The Company’s2013 major innovation was many incremental /radical improvements to our B2B line. Our business was majorly a B2C focused with minor attention to B2B products. The company launched additions to the product families with a new image (rebranded) as well as designing radical new products to expand the portfolio and the major aim in these new changes is to achieve major increases our B2B customeres data base, revenue and growth.
