"Innovation is a Latin word which means the act of introducing novelty to any object. Specialist literature defines organisational innovation as new ideas plus implementation which result in profits generically outlined in the following equation: innovation = idea + implementation + results. According to this definition, innovation is more than just something new; it is necessary to have results or gains. Anew project which does not get results is not an innovation. Innovation means success, so failed innovation does not exist.
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