The word “innovation” is derived from the Latin verb innovare, which means to renew
Innovation means to improve or to replace something, for example, a process, a product, or a service.
They can strive for price leadership or develop a strategy of differentiation.
Companies that choose price leadership must secure their long-term competitiveness by developing innovative.
Many start-ups launch their activities by developing an innovative product or service.
Accordingly, methods of collaboration and teamwork are increasingly being used in numerous companies
Innovation requires more creativity and more willingness to take risks than the implementation of typical projects.
To successfully realize innovation projects, a different mindset is needed.
Innovation projects constantly need new ideas: To overcome obstacles, to change concepts.
Innovation needs the diversity of various competencies and diverse ways of thinking.