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1. Innovation means creating value. Value means something people value enough to pay for it.
So, strictly speaking, innovation means commercial success! ( Sorry, we are honest and down-to-earth. )
2. Innovation can be products / services, process / operations, or business models.
The definition is very broad. It can also mean securing resources / supplies , legally or illegally. In this sense, if you know better ways to bribe in some countries, you can claim to be innovative! ;-) Lobbying, political influence ops are also innovation acts.