The same holds true for "Innovation". It is always a good idea to first agree what was meant by "Innovation".
For me it also helps to say what it is not.
Again a personal view is that Innovation is not:
- Creativity - although it's helpful to have some of that in the mix
- Invention - another great thing to have when trying to innovate but not the whole story
- Ideas - you can't have innovation without good ideas but the idea isn't all of innovation
- A new spin in product or service marketing - no matter how clever!
So much for my view of innovation. There are many different types of innovation, beyond the most commonly used radical or distruptive innovations. This web article lists 15 types and describes them very well from the wonderfully named blog "The Gentle Art of Smart Stealing":