innovation

innovation definition - business

innovation

Creative use of a good, service, or idea that is already available. Ebay's development of a competitive marketplace on the Internet is an example of innovation.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

Comments
Improve this definition.
Do you have more to add? Share your linguistic knowledge or observation.
/Register to save your comments.