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What is meant by Innovation? - Entrepreneurship

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Question

What is meant by Innovation?

Short Answer

Solution

  • Innovation refers to the preparation of personal and organization to face the changes made in the business world.
  • Continuous changes are being made in the business.
  • It includes developing new products, new materials, new’ techniques in production, new package, the new design of a product, and cost and reduction.
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Chapter 2: Functions of Management - Exercise [Page 15]

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Samacheer Kalvi Commerce [English] Class 12 TN Board
Chapter 2 Functions of Management
Exercise | Q III. 3. | Page 15
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